NAB Custdodian Services is reviewing its unit pricing software system and is talking to several external providers, according to executive director John Treloar.
NAB developed its own system, the Unit Pricing Acceptance Module, about five years ago and is currently reviewing this. NAB uses the DST system for price calculations and its own module for unit price verifications. Treloar said the bank was assessing the business case for another possible outsourcing arrangement and was talking to several providers including Milestone Group’s pControl, Garradin and DST. Wesley Palmer, head of customer development, who previously headed up NAB’s unit pricing area, said there were increasing demands on custodians in the unit pricing area as super funds moved, firstly, from crediting rates to unit pricing and, then, from weekly to daily pricing. The sophistication of some of the instruments to be priced was also continuing to increase. “Unit pricing adds a level of robustness to the whole process,” he said.
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