Delta Data
Delta Data
Delta Data is a U.S. based SaaS infrastructure Solutions Company for the Investment Management industry, specializing in Pooled Investment Omnibus trading including Mutual Funds, Collective Investment Trusts, and other model-based securities[1], located in Columbus, Georgia [2]. The company also services the back-end oversight, compliance, revenue and analytics for the industry and has been a vocal proponent of back office automation for compliance and regulation.[3][4][5]
Delta Data, founded in 1985, is privately held and received a growth equity investment from Accel-KKR in 2014.[6]. In 2018, Delta Data’s FundBlast mutual fund communications solution received a NICSA NOVA Award for Innovation in Technology.[7] Delta Data solutions are in use by four of the top 10 US banks [8], four of the top five US retirement recordkeepers and four of the top five US investment managers.[9]. Delta Data’s trading system is the largest 3rd party trading platform and administers over 2.5 trillion in pooled investment securities[10][11].
History/Software
Delta Data was founded in 1985 after being spun out of a public accounting firm engaged in 401k record keeping accounting activities; in 1990, the company launched a 401k recordkeeping platform, DC + Plus, delivered on IBM AS400, which enabled plan sponsors to internally administer defined contribution plans. In 1997, the company launched FUNDLinx, leveraging the NSCC Fund/SERV late night interface for trading Recordkeeper and Bank Trust trades in Mutual Funds. In 2002, the company introduced Revenue Manager to help firms comply with SOX requirements for distribution fee agreements; as early as 2003, Delta Data was working to combat trading abuses which eventually led to the market timing scandal.[12] In 2006, a 22c-2 Compliance tool was released by the firm in response to the SEC’s Rule 22-c-2 that addressed the compliance scandal. The firm continued to provide expert advice on the legislation and later amendments through submission of commentary to proposed SEC amendment language to 22-C2-1[13]
In 2007, AperioSuite was released as the first web-based tool to receive and manipulate DTCC Profile II data. On July 15, 2007, Delta Data launched a compliance solution for algometric trade analysis to identify market timing in mutual funds. This was the first step towards transparency into sub-accounted mutual fund positions. In 2013, DART Acquisition was released, followed later that year by AperioSuite Enhanced, the first sell-side data management solution for mutual funds. In 2015, the company began developing and releasing oversight products, beginning with Distribution Oversight, to enable mutual fund companies to gain visibility into their fund’s distribution, with one of the top three mutual funds in the U.S. as an initial customer. The company also launched a Distribution Fee Management platform for asset managers to facilitate reconciliation of Omnibus invoices received from their distribution partners, and to remain in compliance with Distribution in Guise rules which were re-iterated by the SEC in the “Schwab no-action letter.” Large firms like BNY Mellon that provide transfer agent and other value added services also relied on Delta Data technology to support Mutual Fund Distribution Fee Management activities[14]
Delta Data has worked historically with industry utilities such as the DTCC to improve data quality through software enabled data sets to support the communication of critical product information from Mutual Funds to their distributor so that they can support SEC rule 22c-2, “Distribution Guise Rules” and Share Class Waiver rules.[15] In support of their clients, Delta Data provided the industry with an event based Mutual Fund Corporate action system to further support accurate product data shared between Mutual Funds and their distributors. [16]
In 2016, the company launched Data as a Service for dividends, pricing and corporate actions. In 2017, the company released FundBlast as the industry’s first counterparty communication portal that provided future dated change notifications to pooled investment securities[17] [18] [19]
In 2018, the company released their Proprietary Product Manager (PPM) to help recordkeepers and asset managers coordinate the execution of model based proprietary products.[20] In 2019, the company released an Asset Transfer System that enables Bank Trusts and Record Keepers to proactively schedule and track asset transfers including account based, plan based and Institutional multiple account transfers.[21]
Awards
2018: NICSA NOVA Innovation in Technology awarded to Delta Data for FundBlast[22]
2016 and 2018: Technology Association of Georgia (TAG) names Delta Data as Top 40 Innovative Technology Company.[23]
2014: Great Columbus Georgia Chamber of Commerce Small Business Giant [24]
References
- ↑ "Delta Data". https://www.accel-kkr.com/. Unknown parameter
|url-status=ignored (help); External link in|website=(help) - ↑ Adfams, Tony (February 29, 2016). "Delta Data moving from Brookstone Centre to downtown Swift Mill". Columbus Ledger Inquirer.
- ↑ 2019 To-Do List: Automate the Back Office, Use Data to Preempt Problems. Ignites. 2018-28-12
- ↑ Ortiiz, Peter (January 14, 2016). "Crucial Element Lacking in SEC Distribution Fee Guidance" (PDF). Ignites. Retrieved November 18, 2019.
- ↑ Athey, Whitfield (Jan 12, 2018). "Fintech learns to play nice with traditional institutions". Investment News. Unknown parameter
|url-status=ignored (help) - ↑ Accel-KKR Paddles Down Delta Data. Pitchbook. 2014-09-19
- ↑ NICSA Honors Nova Award Winners at 2018 General Membership Meeting." 2018-09-10
- ↑ The Top Ten Banks in America. SmartAsset 2018-11-20
- ↑ Top 400 Asset Managers: AUM Grows 1% Amid Market Volatility. IP&E 2019-06-05
- ↑ "Delta Data Software Provides Mutual Fund Market Timing Detection Tools for its FUNDLinx Clients". Bob's Guide. Unknown parameter
|url-status=ignored (help) - ↑ "Delta Data Named January Small Business Giant". https://www.columbusgachamber.com/. Retrieved November 18, 2019. Unknown parameter
|url-status=ignored (help); External link in|website=(help) - ↑ Hazard, Eric (September 3, 2003). "Delta Data Releases Mutual Fund Trade Analysis Software". Plan Sponsor. Retrieved November 22, 2019.
- ↑ "Proposed Amendments to Rules Governing Pricing of Mutual Fund Shares. (Release No. IC-26288; File No. S7-27-03)". Unknown parameter
|url-status=ignored (help) - ↑ "Delta Data Supports BNY Mellon's Fee Management Service".
- ↑ Marulanda, Richard (October 1, 2010). "DTCC Enhances Mutual Fund Profile Service to Improve Data Integrity". DTCC Connection. Retrieved November 22, 2019.
- ↑ "BNY Mellon Clients to Benefit from an Improved Way to Communicate and Manage Corporate Actions Data". https://www.bnymellon.com/. July 13, 2018. Retrieved November 22, 2019. Unknown parameter
|url-status=ignored (help); External link in|website=(help) - ↑ Delta Data: About US. Retrieved 2019-10-22
- ↑ BNY Mellon Chooses Email Alternative for Communications. Ignites 2018-06-13
- ↑ New Service Aims to Fast Track Gatekeeper Communications. Ignites. 2018-09-21
- ↑ Delta Data Service Offers Automation for Proprietary Funds. FTF News 2018-09-26.
- ↑ "Delta Data Launches Asset Transfer Manager to Reduce Average Bank Trust Account Transfer Time from 20 Days to 2". Retrieved November 22, 2019.
- ↑ Delta Data Named a TAG Top 40 Innovative Technology Company.Delta Data. 2018-02-22
- ↑ Delta Data Named a TAG Top 40 Innovative Technology Company.Delta Data. 2018-02-22
- ↑ "Delta Data Named January Small Business Giant". Greater Columbus Georgia Chamber of Commerce. January 23, 2014. Unknown parameter
|url-status=ignored (help)
Delta Data
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