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Citco expands data services

Tuesday, January 11, 2022
Opalesque Industry Update - The Citco group of companies (Citco) has enhanced its Citco Data Services platform to enable clients to receive data directly via their own cloud provider.

The cloud delivery feature removes a number of steps for clients wishing to access their data, speeding up the process significantly for users and putting them in control of their data.

The upgrade means users of Citco Data Services - the group's premium, web-based data integration and reporting platform - will now receive their data when and how they want via their own cloud providers.

The enhancement is destination agnostic for clients using Citco Data Services, so the data can be sent to multiple different public and private cloud services. The new service is for the range of alternative asset investment classes Citco serves, including Private Equity, Real Assets, Hedge Funds and Fund of Funds, and covers the relevant data sets across these asset classes.

It is the latest upgrade for Citco Data Services, which was launched in 2020 to empower Citco's clients by improving transparency, unearthing efficiencies and driving real business value through actionable data.

Frank Servidio, Head of Client Reporting Product at Citco Fund Services (USA) Inc., said: "Historically the industry has relied on FTP or API for data delivery, both of which require multiple additional steps on the client side to consume the data.

"The cloud changes all of that. With Citco Data Services we can now post our clients' data nearer its ultimate destination whenever they want it. This streamlines the process for our customers and is much more efficient."

Clients using Citco Data Services have automatically received this new cloud delivery capability, while any new clients will also receive the service in future.

Servidio said the alternative investment industry was moving in this direction, utilizing the latest technologies available.

"Increasingly our clients are leveraging cloud technologies in their day-to-day operations, and we are ready to support them," he said.

The upgrade follows Citco's successful migration of $1 trillion worth of assets under administration (AUA) onto the newest version of Æxeo® running on Amazon Web Services (AWS), in one of the largest accounting transitions in history, and the largest within the alternative investment sector.

Citco, the global asset servicer to the alternative investment industry, has moved all its clients using Æxeo - its straight-through, proprietary front-to-back office solution - from its physical data centers to AWS over the past 18 months.

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