Press Releases

Three Rock Capital streamlines EMIR Oversight with Fund Recs.

About Three Rock Capital Management
Three Rock Capital Management Limited is based in Dublin, Ireland. The firm is authorised to operate as a UCITS Management Company and an Alternative Investment Fund Manager by the Central Bank of Ireland.

About Fund Recs
Fund Recs develops cloud-based reconciliation software for the global Funds Industry, replacing outdated enterprise software with Software-as-a-Service (SaaS). The Fund Recs software simplifies complex reconciliation and data transformation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds. Founded in 2013 Fund Recs has offices in New York, Dublin and Waterford, Ireland. In 2021 Fund Recs won the “Innovation in Investment Management” award at the Deloitte Financial Services Innovation Awards 2021.

Dublin, 12th June 2023 - Fund Recs today announced that Aspect Capital (‘Aspect’), the $8bn systematic investment manager has gone live on Fund Recs Velocity platform to automate the reconciliation process of their EMIR regulatory reporting.

Velocity is a set of software modules that helps global fund administrators, investment managers and auditors achieve straight through reconciliations. Aspect uses Fund Recs Velocity platform to further support the automation of their EMIR reporting, ultimately increasing efficiency, speed and accuracy.

Stephen Martin, Co-Head of Middle Back Office at Aspect, said:  “We are always on the look- out for innovative technology to improve and strengthen our processes. The Fund Recs Velocity platform is serving as a valuable tool to ensure the accuracy of our EMIR Regulatory Reporting and provides important metrics on the matching rates of our submissions. We were delighted with the seamless implementation of the platform and look forward to working further with Fund Recs.’ 

Fund Recs CEO, Alan Meaney, said: “We are excited to be working with the Aspect Capital team and are delighted they have chosen Fund Recs as the solution to meet their reconciliation needs. Our innovative, automated model helps reduce operational risk and will also provide additional transparency. We look forward to developing our relationship with Aspect as they continue to create value for their clients while ensuring their rec process is as seamless as possible.’’

About Aspect Capital

Aspect Capital is a London-based systematic investment manager which applies a systematic and quantitative approach to investment management. Founded by industry pioneers Anthony Todd and Martin Lueck, Aspect has over 25 year history of providing innovative products and diversifying performance to investors worldwide. Aspect combines scientific principles and leading-edge technology to create diversifying investment solutions, and strives to continuously improve every facet of the investment process and generate valuable returns for investors. The company currently manages USD8billion in a variety of investment solutions spanning three broad categories: trend following, macro & currency and multi-strategy & customised solutions. 

Find out more at: www.aspectcapital.com

About Fund Recs
Fund Recs develops cloud-based reconciliation software for the global Funds Industry, replacing outdated enterprise software with Software-as-a-Service (SaaS). The Fund Recs software simplifies complex reconciliation and data transformation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds. Founded in 2013 Fund Recs has offices in New York, Dublin and Waterford, Ireland.
In 2021 Fund Recs won the “Innovation in Investment Management” award at the Deloitte Financial Services Innovation Awards 2021.

Dublin, 3rd May 2023 - Fund Recs, a leading provider of cloud-based reconciliation software for the global funds industry, and Link Fund Manager Solutions Ireland (LFMSI), part of Link Group, a global provider of financial administration solutions, have announced the extension of their partnership on the use of the EMIR Reconciliation module.

Fund Recs' EMIR Reconciliation module is part of the Velocity platform, a suite of cloud-based software modules that help investment managers, 3rd party ManCos, AIFMs, and fund administrators achieve straight-through reconciliations and data processing in their middle and back offices. 

The EMIR Reconciliation solution offered by Fund Recs will enable LFMSI to automate the EMIR trade reconciliation process and achieve greater oversight of its regulatory reporting obligations.

Michael Greaney, Managing Director of Link Fund Manager Solutions (Ireland) Limited comments: “The automation of our EMIR reconciliations is a significant milestone in the development and growth of our business. Their EMIR Reconciliation module is a key component of our overall strategy to streamline our operations and enhance our regulatory compliance. 

“Building on our excellent relationship with Fund Recs ensures that we have the platform and expertise we need to ensure that our reporting meets the highest standards. As client needs evolve, it is imperative that our solutions anticipate and meet them. Ultimately, partnership will mean a faster, more agile, and smoother reporting experience for current and future clients."

Fund Recs CEO, Alan Meaney, comments: "With regulators increasingly focusing on data quality, it is imperative to have robust oversight in place to ensure that reported trades are complete and accurate. Our EMIR Reconciliation solution is designed to help firms like Link achieve greater efficiency and accuracy in their regulatory reporting processes. We look forward to continuing to support Link as it delivers excellence for its clients and continues to evolve its proposition."

About Link Fund Solutions 

Link Fund Solutions, part of Link Group, is an independent provider of Authorised Fund Manager (AFM) services for £125bn of UK, Ireland and Luxembourg regulated funds with over 40 years’ experience of regulatory and administrative services including the establishment and ongoing servicing of the funds, working in partnership with investment managers, wealth managers, boutiques and sponsors. 

Find out more at: www.linkgroup.eu

About Fund Recs
Fund Recs develops cloud-based reconciliation software for the global Funds Industry, replacing outdated enterprise software with Software-as-a-Service (SaaS). The Fund Recs software simplifies complex reconciliation and data transformation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds. Founded in 2013 Fund Recs has offices in New York, Dublin and Waterford, Ireland.
In 2021 Fund Recs won the “Innovation in Investment Management” award at the Deloitte Financial Services Innovation Awards 2021.

Dublin, 9th December 2022 - Fund Recs today announced that its Velocity platform will automate EMIR reconciliations for Neuberger Berman, a private, independent, employee-owned investment manager with $418 billion in client assets. 

Completing an EMIR trade reconciliation is integral to having effective oversight in place on the EMIR reporting process. Regulators are focusing heavily on data quality and firms need to ensure they have sufficient oversight in place to confirm that reported trades are complete and accurate. 

Fund Recs’ EMIR Reconciliation solution supports the oversight process and gives firms the comfort their reporting meets an acceptable standard for the regulator.

Fund Recs clients benefit from being supported by a highly responsive and knowledgeable team to ensure their regulatory needs are being met.

Fund Recs’ EMIR Reconciliation solution is part of the Velocity platform. Velocity is a set of cloud-based software modules that helps Investment Managers, 3rd Party ManCos, AIFMs and Fund Administrators to achieve straight-through reconciliations and data processing in their middle and back offices. 

Alex Duncan, EMEA Operations Director at Neuberger Berman said “We were looking for a provider who was able to support our continued drive to implement best in class solutions to meet our regulatory reporting obligations. Specifically for EMIR reporting, and given the broad nature of our business, we were looking for a partner to automate our oversight of delegated reporting across a wide range of funds and segregated accounts. Fund Recs have both the platform and the people to meet our needs.” 

Fund Recs CEO, Alan Meaney, said: “Neuberger Berman are a leader in the investment management industry, and we are delighted they have chosen Fund Recs to support their oversight obligations for EMIR. At Fund Recs, we are seeing accelerating interest and adoption of our regulatory solutions supporting EMIR, SFTR and ASIC. Data quality is a top priority for regulators globally and firms are looking to platforms, like our own, to strengthen the compliance and governance around their reporting process.” 

Information on Neuberger Berman can be found at www.nb.com.

About Fund Recs
Fund Recs develops cloud-based reconciliation software for the global Funds Industry, replacing outdated enterprise software with Software-as-a-Service (SaaS). The Fund Recs software simplifies complex reconciliation and data transformation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds. Founded in 2013 Fund Recs has offices in New York, Dublin and Waterford, Ireland.
In 2021 Fund Recs won the “Innovation in Investment Management” award at the Deloitte Financial Services Innovation Awards 2021.
Find out more at: www.fundrecs.com

Dublin, 20th July 2022 - REGIS-TR has added Fund Recs to their Partnership Programme. Through this partnership, Fund Recs will have direct access to the REGIS-TR trade repository to automatically retrieve trade data on behalf of their clients. This partnership will greatly simplify and streamline the reconciliation process for Fund Recs’ clients.

Under EMIR and SFTR, financial counterparties are required to submit their transaction data to a trade repository in a timely manner and, having effective oversight of their trade reporting is critical to ensure ongoing compliance with regulations. Fund Recs’ EMIR and SFTR modules enable its clients to ensure that trade flows are submitted and complete as defined by regulatory requirements.

Fund Recs’ CEO, Alan Meaney, said: “Our solutions help fund managers to meet their ongoing reporting obligations. We give you more time to focus on running your business by automating the data collection and reconciliation process, while ensuring accuracy and compliance with EMIR and SFTR regulations. We are thrilled to be collaborating with REGIS-TR in this exciting partnership. This is an exciting time for our client base and partners, as we continue to expand our suite of automation offerings.”

Nick Bruce, Head of Business Development for REGIS-TR, commented: “We are delighted to welcome Fund Recs to our growing partner programme and look forward to working together; delivering tailored, client-centric software solutions, to help clients and market participants meet their reporting obligations.”

About REGIS-TR

REGIS-TR is the leading European trade repository offering reporting services covering all the major European trade repository obligations. In accordance with legislation promoting market transparency, the detail of the trades reported is aggregated to present a composite view of current positions for the benefit of regulatory authorities and market participants. REGIS-TR is open to financial and non-financial companies and institutions.

Find out more at: www.regis-tr.com

About Fund Recs
Fund Recs develops cloud-based reconciliation software for the global Funds Industry, replacing outdated enterprise software with Software-as-a-Service (SaaS). The Fund Recs software simplifies complex reconciliation and data transformation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds. Founded in 2013 Fund Recs has offices in New York, Dublin and Waterford, Ireland.
In 2021 Fund Recs won the “Innovation in Investment Management” award at the Deloitte Financial Services Innovation Awards 2021.
Find out more at: www.fundrecs.com

Dublin, 22nd February 2022 - Fund Recs today announced that The Asset Management Exchange (“AMX”), the Ireland based 3rd Party Management Company, has chosen the Fund Recs Velocity platform to automate EMIR reconciliations.

Fund Recs’ EMIR reconciliation module supports the oversight requirements for fund managers to ensure that all trade data reported for EMIR is complete, accurate and timely.

Eoin Motherway, Ireland Country Head of AMX said “AMX is delighted to partner with Fund Recs in the continuing digitisation of our industry. Their agile solution matches our needs and they are a valued service partner in the AMXConnect Store, which we also invite other industry colleagues to peruse”

Fund Recs CEO, Alan Meaney, said: “We are really excited to be working with AMX to support their EMIR oversight obligations. Oversight of the EMIR trade reporting process is a key focus for firms and we are continuing to invest heavily in our solution to ensure our client’s oversight obligations are met with ease.”

About The Asset Management Exchange

AMX is building a better world for the investment industry.

Launched in 2017, AMX connects investors, asset managers and service partners so they can interact and transact – all in one place.

AMX cuts through the complexity of investing and makes life easier and more efficient for everyone involved.

• Our ecosystem aims to connect investors, asset managers and service partners seamlessly.
• We standardise processes, so there’s one simple way of working that’s better for everyone.
• Everything is centralised in one place, so it’s easy to find what you need.
• We are building an efficient investment ecosystem using technology to transform conventional ways of working to become more nimble, responsive, and sustainable. Our ecosystem enhances relationships, creates connections, and brings efficiencies.

The investment industry is complicated. But, together, we’re making it better.

Find out more at: www.theamx.com 

About Fund Recs
Fund Recs develops cloud-based reconciliation software for the global Funds Industry, replacing outdated enterprise software with Software-as-a-Service (SaaS). The Fund Recs software simplifies complex reconciliation and data transformation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds. Founded in 2013 Fund Recs has offices in New York, Dublin and Waterford, Ireland.
In 2021 Fund Recs won the “Innovation in Investment Management” award at the Deloitte Financial Services Innovation Awards 2021.
Find out more at: www.fundrecs.com

Dublin, 8th February 2022 - Completing an EMIR trade reconciliation is integral to having effective oversight in place on the EMIR reporting process. Regulators are focusing heavily on data quality and firms need to ensure they have sufficient oversight in place to ensure reported trades are complete and accurate.

Fund Recs’ EMIR Reconciliation solution supports the oversight process and gives firms the comfort their reporting meets an acceptable standard for the regulator. Fund Recs clients benefit from being supported by a highly responsive and knowledgeable team to ensure their regulatory needs are being met.

Fund Recs’ EMIR Reconciliation solution is part of the Velocity platform. Velocity is a set of cloud-based software modules that helps Investment Managers, 3rd Party ManCos, AIFMs and Fund Administrators to achieve straight-through reconciliations and data processing in their middle and back offices.

Shoshana Wainer, Chief Compliance Officer at Albar Capital Ltd. said “We are excited to have selected Fund Recs’ EMIR reconciliation module to support our oversight of the EMIR reporting process. We have built a strong relationship with the Fund Recs team and look forward to utilizing more of their best-in-class software.”

Fund Recs CEO, Alan Meaney, said: “We are delighted to extend our relationship with Albar Capital with the addition of our EMIR reconciliation module to the suite of supports we provide to them.”

About Albar Capital

Albar Capital Ltd is an investment management firm authorised and regulated by the Financial Conduct Authority (“FCA”). www.albarcapital.com 

About Fund Recs
Fund Recs develops cloud-based reconciliation software for the global Funds Industry, replacing outdated enterprise software with Software-as-a-Service (SaaS). The Fund Recs software simplifies complex reconciliation and data transformation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds. Founded in 2013 Fund Recs has offices in New York, Dublin and Waterford, Ireland.
In 2021 Fund Recs won the “Innovation in Investment Management” award at the Deloitte Financial Services Innovation Awards 2021.
Find out more at: www.fundrecs.com

Dublin, 14th September 2021 - Fund Recs today announced that they have entered into an agreement with The Depository Trust & Clearing Corporation’s trade repository DTCC Data Repository (Ireland) Plc (DDRIE), part of DTCC’s Global Trade Repository (GTR) service, to partner on delivering new automated reconciliation capabilities in support of EMIR and SFTR trade reporting requirements.

With this agreement, Fund Recs’ Velocity service, a no code, cloud-based platform that automates reconciliation for the investment management industry, will connect to DTCC’s GTR service to retrieve and analyse trade data for accuracy and completion, simplifying and streamlining the reconciliation process.

Under EMIR and SFTR, fund managers are required to submit their transaction data to a trade repository in a timely manner. Oversight of this transaction data is critical to ensure data quality and adherence with the mandates. By leveraging Fund Recs’ Velocity service and DTCC’s GTR, fund managers can compare and match trade records submitted to the GTR service with their internal accounting book of record, ensuring that trades have been submitted and are complete as defined by ESMA trade reporting requirements. The new connectivity allows Velocity to automatically retrieve clients' trade data from GTR, facilitating timely, efficient, and straight through data quality control, eliminating manual processes.

DTCC Data Repository (Ireland) Plc (DDRIE) is one of the European Securities and Markets Authority (ESMA) approved trade repositories under EMIR and SFTR.

Fund Recs CEO, Alan Meaney, said: “Fund Managers are under increasing pressure to ensure EMIR and SFTR reporting is timely, accurate and complete. Our reconciliation modules provide a streamlined, fully auditable, and automated solution for managers, which helps to ensure their governance needs are met. We are delighted to be collaborating with DTCC as entering into this agreement enables us to increase the level of automation we provide to our clients.”

DTCC Managing Director and Head of Repository & Derivatives Services, Chris Childs, said, “DTCC is committed to helping establish a robust, comprehensive reporting infrastructure for the global derivatives market. We welcome the opportunity to work with innovative third-party service providers like Fund Recs to build connectivity to our repository services and help our mutual clients meet regulatory mandates in Europe and beyond.”

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About Fund Recs

Fund Recs develops cloud-based reconciliation software for the global Funds Industry, replacing outdated enterprise software with Software-as-a-Service (SaaS). The Fund Recs software simplifies complex reconciliation and data transformation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds. Founded in 2013 Fund Recs has offices in New York, Dublin and Waterford, Ireland. In 2021 Fund Recs won the “Innovation in Investment Management” award at the Deloitte Financial Services Innovation Awards 2021. www.fundrecs.com

About the DTCC

With over 45 years of experience, DTCC is the premier post-trade market infrastructure for the global financial services industry. From 21 locations around the world, DTCC, through its subsidiaries, automates, centralizes and standardizes the processing of financial transactions, mitigating risk, increasing transparency and driving efficiency for thousands of broker/dealers, custodian banks and asset managers. Industry owned and governed, the firm simplifies the complexities of clearing, settlement, asset servicing, data management, data reporting and information services across asset classes, bringing increased security and soundness to financial markets. In 2020, DTCC’s subsidiaries processed securities transactions valued at more than U.S. $2.3 quadrillion. Its depository provides custody and asset servicing for securities issues from 170 countries and territories valued at U.S. $73.5 trillion. DTCC’s Global Trade Repository service, through locally registered, licensed, or approved trade repositories, processes 15 billion messages annually.

Dublin, 30th March 2021 - Apex Group Ltd. (“Apex” or “The Group”), a global financial services provider, today announces that the European Depositary Bank (“EDB”), an Apex subsidiary, has partnered with Fund Recs to deploy their Cash Flow Monitoring Module.

Through EDB, Apex offers independent banking, depositary and custody services to institutional investors and asset managers for UCITS and alternative investment structures. EDB provides a service suite that covers the full spectrum of asset classes including private equity, real estate funds, hedge funds, listed funds, infrastructure funds and renewable energy funds.

The rollout of Fund Recs Cash Flow Monitoring Module within EDB will create further efficiencies by automating the manual oversight of cash transactions in broker accounts, which is a key requirement for Depositories whilst freeing up highly qualified resources from data processing tasks. EDB’s clients will benefit from straight through processing and customisable reporting.

Tom Walsh, Head of Programme Management at EDB comments: “The deployment of additional Fund Recs software within the Apex Group is indicative of our commitment, as a global brand, to delivering exceptional service by utilising the best-in-class technologies and continually improving efficiencies. We look forward to delivering enhanced reporting services to our global client base as we continue to grow and expand our service offering”.

Fund Recs CEO, Alan Meaney, adds: “We are delighted to be automating more and more workflows within the Apex Group and look forward to continuing to work in partnership as we expand our offering. Having gone live with EDB on Cash Flow Monitoring, we now help yet another team within the Group on a daily basis so they can focus on what they do best: delivering a great service to their current and prospective clients. This is another strong vote of confidence in our software as we remain committed to delivering efficiencies and improved client experience through automation in the financial services industry.”

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About Fund Recs

Fund Recs develops cloud-based reconciliation and data management software for the global Funds Industry, replacing outdated enterprise software with a pay-as-you-go Software-as-"a-Service (SaaS). The Fund Recs software simplifies complex reconciliation and data transformation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds. Founded in 2013 Fund Recs has offices in New York, Dublin and Waterford, Ireland. In 2016 Fund Recs was named “European Start-up of the Year” at the ICT Spring Conference in Luxembourg. www.fundrecs.com

About European Depositary Bank

European Depositary Bank (“EDB”) was founded in 1973 in Luxembourg. It was originally established as a subsidiary of Hamburg based private bank M.M.Warburg & CO (AG & CO) KGaA and was acquired by Apex Group Ltd (“Apex”) in 2019. EDB is supported by Apex’s strong global network of over 40 offices worldwide in addition to its extensive European presence with circa 2,000 employees across the region, and is one of the largest providers of depositary services in Europe for regulated UCITS and alternative funds. Find out more at: www.europeandepositarybank.com