Assetmax, a subsidiary of Infront, the leading provider of software solutions for wealth management, has successfully finalized a pilot project for the use of the “Order Placement API” in the OpenWealth standard with Zürcher Kantonalbank and Winterthur Consulting Group. The trading interface is a cost-effective and efficient alternative to the FIX protocol, which can be used to record stock market orders in a non-bank portfolio management system. It is now available to all asset managers.

The OpenWealth Association is pushing forward the expansion of open standards to make financial and data flows between custodian banks and the associated asset managers and family offices simpler, more efficient and, above all, more cost-effective. Data is exchanged via the OpenWealth platform via automated interfaces that are harmonizedbetween participants. The API interfaces for portfolio management – ​​positions and transactions – have been in use for over two years. The biggest and most recent innovation is the successful introduction of a new API standard for order management.  
 

The project was implemented technologically and strategically by Assetmax in collaboration with Zürcher Kantonalbank. The renowned asset manager Winterthur Consulting Group technically and strategically supported the implementation. Compared to the FIX standard, the connected asset managers now benefit from fee savings, significantly shorter setup processes and further increases in efficiency. This also enables small and medium-sized asset managers to have an attractive stock exchange trading interface. 
 

Massimo Ferrari, Head Product Management Wealth at Assetmax, emphasizes: "We are proud to have provided Zürcher Kantonalbank with technological support in their pilot project. Thanks to our technical expertise and the support of our customer Winterthur Consulting Group, we managed to implement the project quickly and in a targeted manner." 
 

Tenzing Lamdark, Head Private Banking International and External Asset Managers at Zürcher Kantonalbank, says: "It is very important to us to offer our customers a state-of-the-art offering also from a technological perspective. The Order Placement API makes this possible and further promotes more efficient and customer-oriented asset management." 

Rolf Gloor, CEO/CIO Winterthur Consulting Group, thanks Assetmax and Zürcher Kantonalbank for the cooperation in this future-oriented project and states: "Automated processes are central for us as asset managers. They prevent redundancies and susceptibility to errors and help us ensure compliance requirements. In addition, automation increases profitability." 

About Infront   

Infront, the European market leader in financial market data solutions, provides highly usable and dependable solutions to help finance professionals find the information they look for and make more informed decisions – faster, easier, smarter. Infront offers a powerful combination of global market data, news, analytics, and trading together with integrated solutions for data feeds, portfolio management and advisory, and regulatory compliance and calculations. Infront’s solutions serve more than 3,000 customers with over 90,000 professional users.     

  


About Zürcher Kantonalbank
 

Zürcher Kantonalbank is a leading universal bank in the Zurich economic area with national roots and international reach. It is an independent public institution in the canton of Zurich and the Standard & Poor's, Moody's and Fitch ratings agencies have awarded it with a top rating (AAA or Aaa). With over 6,000 employees across the group, Zürcher Kantonalbank offers its customers a comprehensive range of products and services. The bank's core businesses include financing, asset management, trading and capital markets as well as the passive, payments and cards businesses. Zürcher Kantonalbank offers its customers and sales partners comprehensive products and services in the areas of investment and pension provision. 

About Winterthur Consulting Group
 

Winterthur Consulting Group is an independent consulting company that specializes in personal and trustworthy asset management and investment advice. Other core competencies include the rule-based management of stock portfolios with the self-developed WCG:ROB® approach and real estate financing.