SimCorp Partners with Wachovia for Foreign Bond Support
SimCorp will provide support to Wachovia’s foreign bond back office operations. SimCorp’s investment management system, SimCorp Dimension, will cover accounting for foreign bond and foreign exchange transactions, position and regulatory reporting, processing of pricing information and pay down information for foreign mortgage backed securities. The system will also provide reconciliation and position information to the front-office portfolio desk. Wachovia has researched a broad range of systems but determined that SimCorp Dimension was the only system that met its requirements in terms of both functionality and instrument coverage.