The 2025 ICI Operational Resiliency Tabletop Exercise, simulated a prolonged outage at AlphaPrime Trust Company caused by its fourth-party vendor, CoreDataX. The disruption affected critical processes such as trade matching, settlement, and client reporting, engaging 42 firms and over 50 participants to examine fourth-party risk and strengthen resilience beyond traditional cybersecurity concerns.
The Investment Company Institute has published a new paper exploring the operational considerations for launching an ETF share class within an existing mutual fund portfolio. The expected SEC relief...
BTRAC fund members identified in early 2020 that improved transparency from the bank, trust, custody, and retirement channel is needed to better manage responsibilities for fund investors. Industry operation trends—including 1) centralizing operations through omnibus environments...
The asset management industry relies on a complex web of service providers, creating layered outsourcing models that include fourth-party vendors. The 2025 ICI Operational Resiliency Exercise, hosted by Charles Schwab, tested industry response to a fourth-party outage at AlphaPrime Trust caused by CoreDataX. The simulation engaged 42 firms to address cascading risks from complex outsourcing and strengthen resilience beyond cybersecurity.
The asset management industry faces an escalating battle against cybercriminals employing increasingly sophisticated tactics. From state-sponsored attacks to ransomware-as-a-service (RaaS) platforms...
Beginning in 2021, there has been a steadily increasing trend of mutual funds converting to ETFs. Some key differentiators between mutual funds and ETFs are how investors purchase and sell shares, and how the funds themselves purchase and sell portfolio holdings. ETFs are attractive...
Through a series of white papers, the ICI Broker/Dealer Advisory Committee’s (BDAC) Interval Funds Task Force (Task Force) has educated stakeholders about the unique operating needs and requirements of interval funds. While most interval funds are continuously offered, the fund may...
The US capital markets are the largest, deepest, and most liquid in the world. They power economic growth and prosperity due to the efforts of both the public and private sectors. American businesses fuel the markets through innovation and competition, supporting employment and...
