Imported from previous forum
[ original email was from Neil Crisp - nmc@b2bits.com ]
LONDON, Nov 14th 2003: COR STP Solutions, a division of COR Financial Solutions, is deploying the B2BITS FIX engine within COR’s Salerio e2e platform to enable FIX 4.4 messaging for allocations, confirmations and settlement
instructions.
COR-STPS chose B2BITS as its preferred partner for FIX connectivity following a
detailed analysis of a shortlist of market leading FIX engines. The FIX Antenna
engine will be embedded within COR-STPS’ Salerio e2e product suite and deployed to investment managers wishing to utilise FIX based messaging as part or all of their transaction management process.
Lee Runciman, COO of COR-STPS, said: “We believe that FIX 4.4 will become integral to the strategic direction of the investment management community due to the potential cost-savings it produces in the middle-office. As we are piloting
our full FIX 4.4 solution with a key client and several major brokers, we believe that we shall be in a position to capitalise quickly from the uptake of FIX 4.4. We made the decision to partner with B2BITS for a number of reasons including their responsiveness, product strategy, and technology fit with Salerio e2e”.
Robert Woodmansey, CEO of B2BITS, said: “The partnership with COR allows us to kick-start the uptake of FIX 4.4 and allow more investment managers to reap the benefits already realised by existing B2BITS customers. Our combined
solution will be one of the first in the market utilising FIX 4.4 processing at a live client site.”
Salerio e2e is unique in being the only STP application available that is specifically
designed for investment managers: The standard applications allow operational efficiencies to be maximised through prioritised, exception-based workflows. The product suite offers a truly integrated approach to transaction process
management across all instrument types, including notification, confirmation, settlement and reconciliation. The inclusion of FIX processing means that Salerio can now offer connectivity either directly to brokers or through the range of services already supported including OMGEO, SWIFT and the DTCC.
Chris Brooke, Business development Director of COR Financial Solutions, said:” In partnership with B2BITS we will bring FIX connectivity to the Investment management market in not only a cost effective manner in its own right, but also
in such a way that FIX can be deployed seamlessly alongside other transaction based services in whichever configuration best benefits the customer.”
COR-STPS will be exhibiting Salerio e2e at the ISITC conference, London 20th November.
About COR Financial Solutions Limited
COR Financial Solutions is a leading global provider of business solutions to support the banking, securities and asset management operations of financial institutions, through delivering specialist software applications, systems integration and consultancy services via its four divisions:
COR Intelligent Banking Solutions offers a suite of products including portfolio accounting, and wholesale banking activity from treasury to trade finance.
COR Investment Solutions provides services for the retail investment industry.
COR Risk Solutions specialises in helping customers to manage portfolio risk.
COR STP Solutions provides fully integrated STP and transaction process management solutions to the global investment management community.
COR Financial Solutions products are used by over 220 financial institutions worldwide.
About B2BITS Ltd
B2BITS was founded with a core belief that financial markets software is a service and this has driven a unique approach to delivering the most complete range of FIX products available. B2BITS has lowered the barriers to electronic
connectivity through the introduction of the FIX Antenna range of FIX Engines, providing world beating performance on entry level hardware and across a choice of operating systems driving commoditisation. B2BITS has also developed a
range of automated testing tools for client testing and regression testing which
dramatically reduces the cost and time associated with enabling new counterparty
relationships. B2BITS has offices in London and New York and customers range from the largest sell side brokers through to small hedge fund operations.
About Salerio e2e
Salerio e2e is a market-leading transaction processing application that is the
preferred choice of many global fund managers and third party administrators. It is the only truly integrated, global end-to-end STP system available, providing seamless STP from execution through confirmation, settlement and reconciliation. It covers all instrument types for all markets and networks. The Salerio e2e STP
solution is currently used by 7 out of the top 20 global investment management firms and outsourcing organisations across North America, Europe and Asia, representing 20% of global assets under management.
Salerio e2e applications are built to handle very large volumes; for example, its generic matching engine can process up to 2,000,000 transactions per hour. Salerio e2e offers a breadth and depth of functionality and integration that is unmatched in the industry. The product can be delivered as a solution to
automate a single part of the transaction management process right up to a full
integrated best practise STP solution. It encompasses all aspects of the trade lifecycle from block order notification, all the way through to transaction reconciliation with custodians.
Salerio e2e is able to offer a fully integrated, single database solution through the deployment of an application infrastructure (Salerio e2e Framework) within which a wide range of specific Salerio e2e business applications can be deployed.
Salerio e2e Framework encompasses a complete middleware solution and all of the common components that are utilised by the business applications including the exception manager (enabling a single point of exception management), the workflow engine, a highly flexible generic matching engine, and an array of
components for audit, archive, security, data segregation and user profiling. Salerio e2e Framework also delivers a reference data warehouse as standard that gives the user comprehensive facilities for data cross referencing, checking, enrichment and calculation.
The global nature of the Salerio e2e customer base also means that the solution has been linked to most of the market leading asset management applications (order management and portfolio accounting systems) and supports the full range of connectivity options to service providers and networks including SWIFT, OMGEO, FIX and the DTCC, meaning rapid implementation times and faster return on investment.
Media Contacts:
Chris Brooke
Business Development Director
COR Financial Solutions
Tel: +44 (0) 20 7956 2822
Mob: +44 (0)7753 577353
Mail: chris.brooke@corfinancialsolutions.com
www.corfinancialsolutions.com
Neil Crisp
B2BITS Ltd
Tel: +44 (0) 20 7623 6251
Fax: +44 (0) 20 7283 3366
mail: nmc@btobits.com
www.btobits.com