UBS, Credit Suisse, Julius Baer & fundinfo launch fund data dissemination standard “openfunds”
After two years of intensive collaboration, two dozen financial institutions led by UBS, Credit Suisse and Julius Baer together with fundinfo AG have agreed on publishing the openfunds standard, version 1.0, on www.openfunds.org .
This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20160627005519/en/
The non-profit initiative has defined openfunds as an efficient, cost-free and extendible standard which characterises typically used investment fund attributes, a list that today approaches 200 identifiers.
Win-Win-Situation for all participants
The openfunds standard benefits all stakeholders because fund data is transmitted more efficiently, quickly and accurately.
"The openfunds standard gives fund houses and distributors simple and standardised access to fund information. For banks, openfunds increases the quality of fund data while improving automation and accessibility”, says Sascha Lingling, Executive Director at Fondcenter AG, UBS Asset Management. “Distribution partners and their clients ultimately benefit from increased transparency and reliability as they can much easier evaluate and compare investment funds.”
“This unprecedented collaboration has resulted in a standard that will foster significant growth in the fund industry” said Fabio Pérez Cina, Manager in Investment Solutions and Products at Credit Suisse – Fund Lab. “openfunds is an idea whose time has come, and we look forward to promoting it as the de facto global standard for fund data interchange.”
“Efficient fund data transmission is not possible without a widely accepted standard, similar to how the World Wide Web depends on HTML.”, says Michael Partin, openfunds committee member and fundinfo CIO. “We are pleased to offer openfunds to all interested parties free of charge to help make the fund industry run more efficiently and transparently.”
openfunds is open content published under a Creative Commons Licence, which means that everyone may use the standard for free, provided that no changes are made and openfunds is mentioned as a source. More than 400 leading fund providers have already agreed to adopt the openfunds standard.
Founded in 2015, openfunds is a non-profit, global consortium of renowned financial institutions collaborating on a common industry standard for the interchange and dissemination of fund data. Over 400 firms, including UBS and Credit Suisse, have agreed to participate so far. They will soon be able to send and receive static fund data conforming to the openfunds standard. The use of the openfunds standard is cost-free and without obligation. More information at www.openfunds.org
Dr. Michael Partin
openfunds committee member
Tel: +41 44 286 80 20
Marketing Manager, fundinfo AG
Tel: +41 44 286 91 72
Information om Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco
Følg pressemeddelelser fra Business Wire
Ved at skrive dig op her, vil du modtage pressemeddelelser på mail når de udsendes. Indtast din mail og følg instruktionerne. Det er ligeså let at melde sig fra igen.
Flere pressemeddelelser fra Business Wire
NY-GTIS-PARTNERS20.9.2017 15:34 | pressemeddelelse
GTIS Partners Clinches Sustainability Performance Top Honors for Third Year Running
PA-MEET-GROUP20.9.2017 14:33 | pressemeddelelse
The Meet Group to Acquire LOVOO
ARTHUR-D.-LITTLE20.9.2017 13:02 | pressemeddelelse
Arthur D. Little Urges Network Operators to Prepare for Next-Generation Internet of the GigaWorld
LINTEC-CORPORATION20.9.2017 12:47 | pressemeddelelse
LINTEC Announces Four New Adhesive Materials for Labels
QUINTIQ20.9.2017 12:07 | pressemeddelelse
EGS Invests in Artificial Intelligence from Quintiq
FL-SES20.9.2017 11:05 | pressemeddelelse
EchoStar 105/SES-11 Shipped from Toulouse to the Cape for SpaceX Launch
I vores nyhedsrum kan du læse alle vores pressemeddelelser, tilgå materiale i form af billeder og dokumenter, og finde vores kontaktoplysninger.Besøg vores nyhedsrum