Indata Enhances Compliance Solution

As an example of how this version is more flexible, David Csiki, managing director of Indata, tells WatersTechnology that some rules require compliance checks on a pre-trade level, some are expected to be done throughout the day in real-time, and some are expected to be checked post-trade.

"iPM Compliance now allows compliance administrators to configure each rule for optimum results," he says. "Other new functionality includes additional country-specific compliance rules and framework for adding new regulatory rules as well as a new service for outsourcing custom compliance rule creation."

In terms of outsourcing compliance rule creation and scripting, Csiki says because compliance rules can be complex in nature, there is a certain level of expertise that is needed so that firms can demonstrate to clients or consultants that they can handle these new requirements.

"iPM Compliance provides an application programming interface (API) for setting up such custom compliance rules. The new service takes this a step further and offers Indata's compliance expertise as a service," he says. "The end result is that rules can be set up by [Indata's System Administration outsourcing services] staff, resulting in a rapid turnaround time. So it is really a matter of the compliance officer or department of the investment firm having access to additional staff with compliance expertise, which can also result in cost savings as the outsourcing service is typically a fraction of the cost of what adding additional in-house staff would be."