Trema has launched NAV Monitor to provide real-time calculation and reporting of Net Asset Value (NAV) to fund managers. ‘As the net asset value set at the market close might not represent the actual asset value, late-day traders use this scheme to make an illegal profit,’ said the company. A statement noted that New York Attorney General Eliot Spitzer has described late-day trading as ‘betting on yesterday’s horses’ while the UK’s FSA is expected to make a public statement about the issue in the coming month. Commenting on the potential benefits of its new system, Arnaud Leconte, Product Manager at Trema, said: ‘As a fund manager, when you buy a fund unit, you do so based on the published price. Using real-time NAV Monitor, the published price will come from within the module that incorporates this auditing functionality. This will give full transparency as to when the funds are traded and provide a record of all events.’ Leconte added: ‘This solution will provide fund managers with an effective method of demonstrating reliability and integrity of funds to investors.’
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
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Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
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