In other news, SWIFT has a new director overseeing the Americas, TORA opens in London, BondWave updates Effi and Transcend hires from JPMorgan.
Raymond James Deploys Syn-TAC Upgrade
Raymond James executives report that they renewed an existing contract for GBST’s mid-market back office solution, Syn ~ TAC, with the goal of strengthening the company’s straight-through processing (STP).
A GBST customer for more than seven years, the company has also upgraded to the latest version of Syn ~ TAC, officials said. The company also notes that it has “experienced an increase of over 40%” in STP through the GBST offering.
The Company’s upgrade to Syn ~ TAC “will enable it to offer buying clients an even higher level of automated post-trade allocation service than before … This will make it easier to manage exceptions between multiple confirmation providers. Electronic transaction (ETC) further improve STP times with limited user interaction required, ”according to GBST officials.
“Upgrading to Syn ~ 3.3 has been critical in further advancing the automation function in our middle-office environment,” said Susan Horn, Managing Director, Global Equities and Investment Banking at Raymond James, in a commentary. prepared statement.
“We started the upgrade on a Friday after the US markets closed and were ready when the first trade was processed from our London office early Monday morning. With the upgrade, we will now be able to accommodate future transaction volumes that exceed our substantial growth over the past two years, ”said Horn.
“The new version of Syn ~ TAC also enables Raymond James to provide an alternative Financial Information Exchange (FIX) messaging service to its customers, as DTCC moves away and withdraws its old Oasys ETC services,” according to GBST officials. “Syn ~ TAC will adapt to DTCC’s CTM progressive trading functionality to ensure Raymond James’ client base can migrate before the October 2021 deadline.”
Raymond James manages $ 1.18 trillion in client assets, $ 7.6 billion in equity and has more than 8,400 financial advisers, officials said. – EMG
SWIFT appoints Managing Director, Americas and UK
The Society for Worldwide Interbank Financial Telecommunications, better known as SWIFT, announces the appointment of John hunter as Managing Director of the Americas and UK region. He was most recently Managing Director of JPMorgan Chase and is an industry veteran with experience in “cash management, payment services and innovation,” the statement said.
At SWIFT, Hunter will focus on “strategic customer relationships in these core markets, with a focus on the opportunity for the industry to transform and create new services based on the underlying SWIFT infrastructure” .
The goal is to “enable instant, frictionless international transactions and rich data services on more than 4 billion accounts in 200 countries around the world,” the statement said.
Hunter has held financial services positions with Accenture, Adobe and Hewlett-Packard, according to SWIFT, which is a “member-owned cooperative” that provides “financial messaging services.”
SWIFT is headquartered in Belgium. – L Ch.
TORA Open an office in London and add staff
TORA, a provider of a cloud-based order and fulfillment management system and portfolio management system, announces its expansion into the UK.
The supplier added an office in London and hired Pierre Rang and Chris Hopton.
Rank, who is from Ax Trading and Bloomberg AIM, will be Director of Sales, Europe. And Hopton, who comes from Trading Screen and SS&C Technologies, will be a professional services manager. – L Ch.
BondWave Updates Portfolio Analysis Suite
Fixed-income solutions provider BondWave has released an enhanced version of its portfolio and transaction analysis suite Effi 3.19, to meet customer demands for higher rates of efficiency and productivity.
Vendor managers report that Effi’s improvements are:
- BondAlert emails: “Email notifications now include totals and details on specific alerts, improving users’ ability to know when action is urgently needed. With customization capabilities, users can also control the frequency of linkage event emails, allowing hourly or daily grouping of events for those who do not wish to receive immediate alerts; “
- Market calculator Automatic backup: “Saving calculations to the Market Calculator is currently a manual step, but with several adjustments made to improve the user interface, Effi now offers users the ability to save calculations as they wish. Options include manual, automatic recording, or a combination of the two. Additionally, an exceptions column has been added to Market Calculator and Saved Calculations widgets, providing users with a central location to see if an exception has occurred and the ability to sort multiple calculations based on the number of calculations. ‘exceptions; “
- Unknown titles: “Users can now add positions for credit notes that do not have a standard security identifier or that is not recognized by Effi. This allows non-standard positions to appear on screen and in reports for users and their clients; “
- And the report fields and functionality: “Effi reports now include several requested fields and components with improvements to Fixed Income Analysis, Optional Next Call, Cash Flow, Redemption, Exposure and Amortization / Depreciation. ‘increase. “
BondWave is a subsidiary of First Trust Portfolios LP – EMG
Transcend appeals to JPMorgan for new executive director
Transcend, a provider of analytics, optimization and automation for collateral, liquidity and financing, reports that Jason arboreen joined the firm.
Its mandate includes helping companies “optimize the use of collateral across all lines of business to maximize value and overcome the complex challenges of today’s unique financial infrastructure,” said Transcend. in a press release.
Arboreen joins over 20 years of experience in the financial industry. Most recently, he was executive director of JP Morgan, the statement said. Prior to JPM, Arboreen was at UBS and Goldman Sachs, Transcend says. – L Ch.