FundSERV Update

FundSERV Update
June 7, 2013
Peter Lacasse
Senior Manager
Relationship Management
“This is a fantastic time to be entering the business world, because business is going to change more in the next 10 years than it has in the last 50.”
Bill Gates Agenda
1. Business Update
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Financials
Network Activity
2. FundSERV Standards update 3. The Future
Financials
Fiscal 2012
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Record year for orders processed
Record year for N$M values and volumes
Expenses up slightly year over year
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Rebate stable at $8.7M
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Continued investments in GICSERV & DTCC
Head count up at 92 + 6
Issued in May
Regulated as a clearing agency (OSC) in April 2012
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No change in costs
Network Activity
Electronic Transactions
33,000,000
32,500,000
32,000,000
31,500,000
31,000,000
30,500,000
TFS Transactions
30,000,000
29,500,000
29,000,000
28,500,000
28,000,000
2007
2008
2009
2010
2011
2012
Network Activity
N$M
80,000,000,000
70,000,000,000
60,000,000,000
50,000,000,000
N$M US
40,000,000,000
N$M Cdn
30,000,000,000
20,000,000,000
10,000,000,000
0
2007 2008 2009 2010 2011 2012
Network Activity
FUNDcom
Inquiry Options:
20,000,000
15,000,000
10,000,000
5,000,000
0
2007 2008 2009 2010 2011 2012
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Account holdings
Transaction history
Redemption calculator
PAC/SWP/AWD
Distributions
Demographics
10% Free
DSC
GMWB
Network Activity
Non Financial Updates
25,000,000
20,000,000
15,000,000
NFU
10,000,000
5,000,000
0
2007
2008
2009
2010
2011
2012
FundSERV Standards
Version 23 – June 10, 2013
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Phase II of our flat file conversion to XML
Benefit: FundSERV laying the groundwork for the future of the fund industry
Commissions and service fees – WS and SS files
General Enhancements and Maintenance
FATCA ‐ November 16, 2013
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Initial Data Standards published
Further changes expected (Inter‐governmental agreement expected)
Clarity for reporting requirements (Client name vs. Nominee)
FundSERV Standards
Version 24 – September 22, 2014
Files impacted:
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Transaction Reconciliation (AT and AH)
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Settlement Instruction files (AF)
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Settlement Report (AG)
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Settlement Instruction Error (AQ)
*Payment Exchange is not impacted
FundSERV Standards
2013 2014
April May June …… December I January ……. March …….. September
SSC Approval
Help file published
Design, Development, QA, Internal UAT Industry UAT
Go Live
April 4, 2013
June 28, 2013
Until March 5 – Sept 14, 2014
Sept 22, 2014 March 1, 2014
The Future
1. Education
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Customer training sessions  Raise brand awareness amongst advisors
 Increase participation in underutilized services
2. Outreach
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Better understand distributor challenges
 Increase relationship management efforts
 “Day in the life” program
 3 FundSERV forums (Vancouver, Toronto, Montreal)
The Future
V.S.
The Future
Initiatives Already in Progress…
EPA
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Mandatory Standard effective September 9, 2013
Fund Company participants = 21 GICSERV
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V1 in production
SIT is production ready
The Future
WE WANT YOUR FEEDBACK!