Accenture launches STP venture for asset management community

Sacked chief of Australian financial services giant AMP named as CEO of new joint venture Encompys.

Accenture has joined with Advent Software, Compaq, Microsoft and the Bank of New York to create Encompys, an independent company offering outsourced straight-through processing STP solutions for the global asset management community.

Encompys evolved out of the WEBeSTP program at Accenture, formerly Andersen Consulting. Its first client, global fund manager PIMCO, signed on last year before Accentures partners in the venture were named.

The venture aims to provide a single point of entry for all pre-trade, trade and post-trade activities, enabling asset managers to focus on their core competencies of investment management and client relationships while helping to reduce the time, cost and risk associated with securities trading and...

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