Managed funds administrator Ausmaq and portfolio administrator Praemium yesterday announced completion of an integration program which will soon be taken up by another major institution.

Ausmaq has built a standard interface from its trading and custodian platform to Praemium’s equity trading system, which will allow Praemium to pick up managed fund data in the same way as it does from the traded markets. Rob Brown, chief executive of Ausmaq, said that other institutions were looking at the development, which should be of particular interest to large institutional brokers. “;The [brokers] all have some footprint in managed funds but historically they’ve found the administration difficult,”; he said. The new institutional Praemium user to run with the integration would be announced within the next few months. Brown said the integration of Ausmaq’s system, Fundstreme, with Praemium would deliver improved functionality, quality and timeliness. Arthur Naoumidis, chief executive of Praemium, said that while the firm was acknowledged for its direct equities administration, the interface with Ausmaq added a streamlined managed funds solution to its V-Wrap clients.

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