Model-based software for the global securities industry
Press release
MUSI goes live with Syn
for
fixed income settlement
Mitsubishi UFJ Securities International plc (MUSI) is now live with Syn for
managing equities, bonds and reference data.
London 3 April 2006 – Mitsubishi UFJ Securities International
(MUSI) has gone live with SynSettlements from
Coexis. The ADP Wilco Gloss system has been turned off and the implementation
project to standardise on Syn for
workflow and lifecycle management of all MUSI’s cash markets
settlements is complete.
"With Syn in
place we are now able to address achieving high STP levels for an
extended range of asset classes including the full range of fixed
income instruments and securities financing transaction types such
as repos,” said Don Simpson, managing director of operations & technology
at MUSI. “We have every reason to expect similar high levels
of STP – at around 95 per cent - that we have already attained
by using Syn for
equity settlement and for counterparty static reference.”
Consistency of systems technology, which enables business analysts (rather than IT) to quickly and easily model or change business processes, take advantage of new opportunities and deliver the highest levels of customer service, is delivering greater business efficiency.
SynSettlements is
a flexible, rules and lifecycle-driven back-office processing engine
handling all transactions from trade capture through to ledger postings.
Process automation is key in minimising the human involvement needed
in processing a given transaction. Syn goes
a step further in reducing operational costs and improving STP through
its automated approach to exception handling for the correction and
rapid repair of transactions.
MUSI is involved in capital markets businesses including structured finance, equities, fixed income products, derivatives, exotics and new issues.
About Syn and
Coexis
Coexis, the creator of Syn® ,
is a global IT product provider with 30 years’ experience of
meeting the software needs of businesses in the international capital
markets. Syn applications
take advantage of a rules- and lifecycle-based approach which free
users from the high cost of bespoke solutions and the rigidity of
off-the-shelf packages. Applications include SynSettlements,
(settlement of bonds and equities), SynFixRouter, SynFundsSupermarket, SynStruct and SynCustomer.
-ends-
Press contact: Salli Roskilly Saffron Communications Limited
T: +44 (0)1763 208708 E: salli at saffroncoms.com
Further information from Sunil Shah, chief executive officer, Coexis
Limited
1 High Street Rickmansworth Herts WD3 1ET UK
T: +44 (0)1923 720477 E: sunil.shah at coexis.com