NETHERLANDS/US – ABP Investments US, the investment subsidiary of Holland’s e150bn pension fund ABP, has bought a newly released electronic pool notification (EPN) interface from Princeton Financial Systems, allowing it to achieve straight through processing of TBA (To Be Announced) mortgage-backed securities.

EPN, which uses Princeton Financial's PAM portfolio management software, is an electronic communication network that allows participants to transmit and retrieve mortgage-backed security pool information via standardized message formats.
The system provides an array of reports and audit trails, allowing for timely, accurate and rapid delivery of messages, reducing processing time and the number of errors experienced with manual methods of exchanging pool information.

Jeanine Presa, senior vice president of operations for ABP US, comments: "For several years, the industry has needed improvement in the settlement area of mortgage-backed securities TBA pool allocations.
“The EPN Interface has significantly reduced our processing time and increased our capacity to handle more volume. It adds controls to our workflow and enables timely settlement between our custodian, State Street, and our brokers. Now our company is closer to STP solutions before 2002 and our business has increased capacity to handle growth and change in our future."