MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, June 28, 2001 Circle Trust Offers Funds Access to TPAs Circle Trust Company is now in the first phase of the launch of ECLIPSE, the firm's new platform for mutual fund trading for third-party administrators (TPAs). Circle Trust is a subsidiary of Orbitex Financial Services Group. Circle Trust was one of the first firms to step into the role of custodian to allow TPAs to use the NSCC's Defined Contribution Clearance and Settlement platform. The NSCC DCC&S platform allows TPA's to negotiate directly with fund firms for revenue sharing. However, the platform requires that the TPA be partnered with a custodian to process the transactions. "ECLIPSE provides us with the first in a series of platforms that will allow us to leverage the latest technology to deliver the best possible products and services to our clients," said Sam Whittle, executive vice president at Circle Trust. "We made a strategic decision to transition our internal and customer applications to the Java platform, and the BEA Weblogic platform is rapidly becoming the industry standard, keeping Circle Trust on the leading edge of technology." "ECLIPSE and the move to a Java-based enterprise architecture will allow us to increase even further the flexibility of our product and service offerings," he continued. Circle Trust was one of the first firms to step into the role of custodian to allow TPAs to use the NSCC's Defined Contribution Clearance and Settlement platform. Printed from: MFWire.com/story.asp?s=26933 Copyright 2001, InvestmentWires, Inc. All Rights Reserved |