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Global Custodian implements DSTi’s Australian developed HiPortfolio IAS modules

  • 16 November, 2004 11:07

<p>Sydney 16 November, 2004 – DST International (DSTi), the leader in business solutions for the investment management and business process management industry today announced that RBC Global Services, a division of Royal Bank of Canada, has selected HiPortfolio’s new International Accounting Standards (IAS) modules for its Australian investment management operations.</p>
<p>The modules include the Multi-View Accounting module, Classification of Assets module, Interportfolio Transfers module and the Preference Shares module. Following the implementation of new International Accounting Standards effective 1 January 2005, the modules will assist RBC Global Services with the new dual accounting and reporting requirements, as well as further management of share portfolios for its customers.</p>
<p>Built in DSTi’s Melbourne Research &amp; Development Centre with input from DSTi’s clients around the globe, the RBC Global Services implementation is a first for Australia. The development was fully funded by DST International.</p>
<p>As a result of the implementation of the IAS modules, RBC Global Services will be well prepared to support its clients with their global accounting and reporting needs. The HiPortfolio International Accounting Standards modules will assist RBC Global Services in replicating current records into the new Standards format and introducing new levels of functionality for share transfers and additional calculations.</p>
<p>According to Ian Mathieson, Chief Executive Officer of DST International Australia and New Zealand, “RBC Global Services has continued to adopt DSTi’s advanced HiPortfolio solutions into its business offering as they are a strong contributor to RBC’s technology innovation. A benefit for implementing the DSTi International Accounting Standards modules is that they are available now and can be implemented with minimum future disruption.”</p>
<p>“This will see RBC Global Services fully set up for the introduction of new International Accounting Standards for business next year. Further, with new enhancements it will provide greater flexibility in processing shares within portfolios, allowing for different accounting methods to be applied if need be and more intricate calculation and processing of preference shares,” said Mathieson.</p>
<p>RBC Global Services currently uses DSTi’s world class portfolio management system, HiPortfolio, and business process management system, HiBPM.</p>
<p>About DST International (DSTi)
With 18 offices and over 1300 professionals to support its growing client base, DST International provides a unique and comprehensive range of investment management and work management software solutions and related services to over 600 clients in 55 countries.</p>
<p>About DST Systems, Inc.
Our parent company, DST Systems, provides sophisticated information processing and computer software services and products that help clients improve productivity, increase efficiencies, and provide higher levels of customer service. DST is organised internationally into three operating segments: Financial Services, Customer Management, and Output Solutions. DST operates one of the most advanced data centres in the world, which provides information-processing services to support the products within each operating segment. These products are further enhanced through the integration of DST’s advanced technology and e-commerce solutions.</p>
<p>For more information please visit www.dstinternational or contact:</p>
<p>Cathryn van der Walt</p>
<p>12 Worlds Pty Limited</p>
<p>Tel: +612 9501 1931</p>

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