TISA Universal Reporting Network announce new partnership panel

Blockchain solution for fund related data, TISA Universal Reporting Network (TURN), today announces TURN Solution Partners, to provide value-add services, such as data collection, validation and aggregation, for asset managers and distribution businesses that use TURN.

Gary Bond, CEO, TURN, said, “This approved panel of providers will make TURN, an industry run not-for-profit, the go-to partner for the European asset management and distribution industries across Europe.”

TURN’s Eco-System offers data calculation, validation, aggregation, and dissemination. The panel, made up of ACOLIN, DFIN, FundConnect and Kneip, provides wider and value-add services to the TURN blockchain tool.

Deutsche Wealth Services, MFEX, Calastone, Transact, Deutsche Bank, Allfunds, Link Group, and Fidelity are some of the notable firms using the platform.

A spokesperson for TURN said, “The overall aim of this alliance is to help more businesses increase their market compliance, reduce regulatory and operational costs, and provide a better service to investors.”

TURN, now a global leader in digital transformation, officially launched in October 2020.

It eases regulatory reporting requirements of MiFID II and is available across Europe based on blockchain technology.

All relevant parties have access to the EMTs (European MiFID II Template) on a real time basis and this will be of a high and consistent quality. The utility cuts data management costs by 85-90% in year one.

The scope of TURN is now widening to include EMT, EPT, EFT, ESG, Fund Static Data, Corporate Actions/Dynamic Data and Fund Pricing, with further enhancements that will be a result of the industry defining the future strategic path.

Aleksandar Kozacenko, Group Head Data Strategy and Governance, ACOLIN, spoke of the new panel partnership, “ACOLIN are pleased to be part of the panel and with our legal, compliance, data, and distribution solutions we can offer TURN’s users highly specialised knowledge and support for cross border fund distribution.”

Bianca Popa, Product Development Manager, FundConnect, said, “FundConnect’s FinTech and infrastructure capabilities will assist TURN’s users navigate the complex and cumbersome realm of data quality and timely servicing. We are delighted to be part of the TURN Solution Partners project.”

Rob Wilson, Senior Vice President, DFIN, said, “We believe that the combination of DFIN’s ArcRegulatory platform and TURN can help the industry improve their operating models and bring greater transparency to underlying cost and charges and risk and performance data.”

Ulf Herbig, Head of Product at Kneip, said, “As a founding member of TURN, we recognise how critical it is for industry members to come together to make fund distribution more effective and to simplify how asset managers ensure compliance with the ever-changing regulatory world.”

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