Global Custody Enters the Internet age

Tired of looking at various Web sites to find out whether custodians like ABN Amro, Brown Brothers Harriman or Paribas, are participants in various markets? BDG Communications is launching Globalcustody.net, a Web portal providing indepth information on all the global and local custodians, depositories and settlement systems, as well as fund administration and agent banks, their markets and services. The portal also provides news on securities markets, rankings of providers from a Global Custodian survey, and a chance for the institutional investor to create a matrix of desired services to see which custodians best fit their needs.

Still in its infant stages, Andrew Stephenson, managing director, says the portal was created to fill the need for comparative analysis of custodians. Investment managers need a place to go where they can compare the custodians and the services they provide, he says. In the past, it was difficult to get information on all the different providers quickly and easily. The information on the site is provided by the custodians themselves. "We're not looking to provide a value judgement," Stephenson explains.

Stephenson notes that the site has been running over the last six months while it was being built, but the first phase was officially launched in April. Investment managers can subscribe to the service for free. However the custodians do have to pay a fee for certain listings-such as participation in the matrix. Stephenson points out that custodians receive a freebe in terms of the general listing since BDG wanted the listing to be as comprehensive as possible.