Pension Funds: New Plumbing and STP Success
I couldn’t get into my office the other day. The road was being dug up in order to lay new water mains – the old Victorian infrastructure has worn out and needs to be replaced. Last week I was delayed for nine hours returning to London on the train. The roof blew off the railway station in high winds and the fire brigade said the falling roof would cause injury. These events underlined for me how far our modern world is dependant on the legacy of Victorian infrastructures left to us by the industrial giants of the 19th century (even if it is now falling apart in life threatening ways).
At Idea Group, we are very aware of the importance of a solid reliable infrastructure. We are currently involved in the construction of a new electronic trading infrastructure for the corporate pensions industry that is going to transform the way the industry does its business, not just in the UK but also potentially across the globe. So what is the technical breakthrough that has made this advance possible? ISO20022 UNIFI messaging and the SWIFTNet Funds messaging infrastructure.