HSS rolls out administration platform for MENA region - 11th Nov 2011

HSBC SECURITIES Services (HSS) has launched a new fund administration platform for the Middle East and North Africa.
According to the firm, the platform’s capabilities include a robust valuation reporting model, ability to cater for a full range of asset classes, rich functionality around accounting and valuation, increased automation of functional services such as cash processing and reconciliation, reputed third party sources of prices and rates and the ability to utilize an extended range of performance management and compliance tools.
Arindam Das, head of HSBC Securities Services, MENA, commented, “Our progressive investment in the securities services business in the Middle East and North Africa is designed to provide a best in class service proposition. Through this we are able to offer a full product range with the key benefits of accuracy, agility, responsiveness and scale, as expected by the clients we serve.”
The launch follows development of the company’s global custody proposition in the Middle East market over the last two years, according to Ian Stephenson, global head of product, fund services.
“Project investment leveraged HSBC’s global strategic fund administration technology platform, enabling a wider range of value add services and benefits to be brought to clients in the region,” he said.
The new platform is part of an ongoing commitment to development in the MENA region, according to a HSBC.
HSS is a leading providers of custody and fund administration, operating in 48 markets worldwide. It has a strong record in the MENA region as one of the first international banks to offer these services.

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