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INFORM can support interfaces with virtually every industry standard trading system, including client developed proprietary systems. Our advanced technology permits us to adapt our methods of communication to fit your particular instruction entry, on-line access, and reporting/data transmission needs.
The Bank of New York Mellon’s philosophy is to use automation to its fullest potential, and our goal is to offer services that effectively connect your business system applications to the Bank’s services. An automated interface eliminates duplicate entry of trade instructions, automates transaction, income and position reconciliation, and reduces the potential for errors by minimizing manual intervention.
INFORM has existing interfaces with many subcustodians and trading systems. While our preference is to use electronic interfaces with industry standard formats, we recognize that this is not always possible. We are currently communicating with domestic and international custodians using Society for Worldwide Interbank Financial Telecommunications (SWIFT) and SWIFT formatted messages, ISITC message types, DTC Hub, client PC packages, as well as other electronic transmissions with proprietary formats.
Selecting the appropriate methods of communicating electronically to meet your specific needs with a service provider could be very daunting. With that in mind, the Bank is pleased to offer the services of our Client Technology Consulting Group. This group will work with you to deliver the most efficient and effective methods of electronic interfaces to meet your individual requirements. They will assist you in the creation, integration and implementation of appropriate system interfaces to make our processing relationship as automated as possible.
Specifically, INFORM supports the following types of interfaces:
- Accounting Interfaces
The Bank of New York has built extensive and advanced links with 25 major accounting systems that are popular with our clients and accessible through INFORM.
- Investment Accounting Interfaces
Automated interfaces to assist insurance companies with their regulatory and reconciliation needs. Importantly, our files are pre-formatted to fit your accounting standards with industry known investment accounting systems.
- SWIFT Interfaces
Existing interfaces with domestic and international custodians.
- Trade Interfaces
Links to major trade information vendors and the Bank's BNY Securities Group.
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