Simcorp Polls on POINT, Discusses with David Bates

A recent survey released by SimCorp,has revealed that most asset managers view the retirement of Barclays POINT as negative to them and the fixed income industry. The survey was conducted during a webinar hosted by SimCorp and Citisoft titled "Transitioning Away from POINT - Understand your Options.'

The survey, which polled 114 individuals from 60 firms across North America revealed that:

• Nearly 90% of respondents do not believe or are unsure that Bloomberg PORT, the proposed alternative to POINT, will fulfill their fixed income requirements
• 75% are planning to initiate a search or have an initiative underway to replace Barclays POINT
• More than 50% see the acquisition of Barclay's POINT as an opportunity to re-assess front office fixed income support

"The timeline of the acquisition does not support a 'wait and see' approach, these firms are in immediate need of a comprehensive transition strategy,"said David Bates, Principal at Citisoft. "As next steps are assessed, they should consider what functionality needs to be replaced. POINT is often employed across various front- and middle-office functions, so it is likely that many firms will require a single or multi-platform replacement model to support agile investment decision-making, risk handling and performance measurement going forward."

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