The number of unique funds on DTCC’s Alternative Investment Product Services (AIP) has surpassed 10,000, the company has announced.
This marks a 20 per cent increase in unique funds over the past 12 months. The number of clients using the product has also risen by 28 per cent to more than 2,200.
AIP, launched in 2008, provides clients with a standardised reporting and trading platform, linking the alternative investments industry and exchange data.
It acts as a transaction processing and trade execution channel, connecting product dividers and issuers to distributors.
Through the service, DTCC aims to reduce the cycle time for transaction execution, removing manual processes and improving transparency and resiliency.
Over the past year, further capabilities have been added to AIP including document transfer and delayed NAV purchase support.
These allow users to share documents while mitigating risks on incoming files, and enables automated purchase orders for complex business development companies products.
Ann Bergin, DTCC managing director and general manager for wealth management services, says: “The number of unique funds that have been added to the service, combined with the continued increase in new clients adopting AIP has reinforced the value of automation for the alternative investment industry.
“We remain committed to supporting our clients’ evolving needs by providing scalable infrastructure that automates critical processes, essential to advancing the alternative investments industry.”
