CTS TRADE IT innovating Slovenská spořitelna’s Funds Depository

29. March 2018

CTS TRADE IT has commenced implementing a module of the CTS system at Slovenská spořitelna tasked with performing the funds depository role. This module oversees whether the operations carried out by the funds are in compliance with the applicable legislation. The new CTS module aims to simplify and streamline the processes that the funds depository performs.

The implementation of the CTS system will enable control over the funds' assets and to monitor whether these assets are properly valued. It will also calculate and verify a fund's receivables and payables, as well as its net asset value (NAV). Last but not least, it will also verify that the limits and structures of the funds' assets are in accordance with the law as well as the specific fund's statutes.

"A tender procedure meeting all the applicable requirements was announced for the system to cover the function of the funds depository. We selected the solution proposed by CTS TRADE IT on the basis of the long-standing positive experience we have with the CTS product. We believe the main advantage of this solution is that it will unify the systems and their tasks, which will chiefly help us simplify the funds depository operations," says Andrea Ondrušková from the Custody & Funds Administration department of Slovenská spořitelna on the change to be implemented.

The portfolio of funds controlled by Slovenská spořitelna includes not only funds of Asset Management Slovenskej sporiteľny, its sister company, but also funds of STABILITA, d.d.s., a.s., a supplementary pension company. 

"I am delighted that Slovenská spořitelna has chosen our solution. This means that the CTS solution implemented at the bank has proven itself – both in the field of ensuring the distribution process of selling mutual funds, and newly also in the performance of performing the funds depository role. As an IT supplier, we are pleased to have the opportunity to play a part in the growth of our customers in this promising area," adds Zita Benešová, Account Delivery Manager of CTS TRADE IT a.s.

Mutual funds are increasingly being sought by customers who want to invest their money. The total volume of investments made into mutual funds in the Czech Republic alone exceeded CZK 480 billion at the end of last year.