News Article

BNY Scrambles to Fix Unresolved ETF "Glitch" by Monday Market Open

Aug 31, 2015
ISOdx resolves the root cause of such "glitches" in minutes or hours rather than days or weeks.
SunGard Data Systems tried to implement an upgrade to an accounting system that Bank of NEW York Mellon uses to calculate NAVs for the mutual fund and ETF industries. There was a glitch and something became corrupted. SunGard said the malfunction appeared to have been caused by an operating system change performed on Aug. 22. If the company had been using ISOdx, that "change" could have been rapidly located and the system quickly brought back to an operational level. Instead, it became quite the ordeal.

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