GLOBAL ALTERNATIVE INVESTMENT AUTOMATION
The Global Alternative Investment Automation (GAIA) initiative formally commenced in August 2014, following on from exploratory meetings earlier that year. The group aims to bring automation to the operational messaging flows within the global alternative investment industry.
GAIA has already publicly published market practice documentation, and messaging standards, which have been recognized and formally approved for global use by ISO.
GAIA consists of a select group of alternative investment administrators, who play either the role of transfer agent or custodian.
A decision was taken to keep the GAIA group small and efficient in order to aid decision making, and so each potential member was asked to identify the other firms that they thought were essential to be involved.
Key to the success of automation initiatives is the definition of standard market practices that can be adopted by all participants.
The GAIA group has adopted a business focused approach to this, taking
an in depth review of the problem to be solved and not being constrained by fitting into a specific technical solution.