Model-based software for the global securities industry
Press release
Coexis announces strategic partnership with
Hong Kong-based Serisys and readies Syn
capital markets software for
China.
London, Hong Kong and New York, 28 March 2007 — London
and New York-based Coexis Limited, today announced a strategic partnership
with Chinese IT services provider Serisys Solutions Limited to sell
and support Coexis’ Syn development
technologies and capital markets applications in Asia Pacific, especially
China. Coexis also announced that the company has readied its Syn solutions
to reflect Chinese requirements to assist global investment firms
achieve their ambitions in China and ultimately to help Chinese brokers
to operate on the global stage.
On a case by case basis, after October 2007 foreign brokers will be able to run local Chinese brokers. As a result they will need to put in place trading and business processes and systems to support straight through processing (STP). Chinese firms, who in future will be able to trade globally will look to procure process knowledge through investment in “state of art” systems.
“By partnering with Serisys, whose founders have long
experience of implementing systems in China and Asia Pac, we gain
crucial understanding of local conditions, local delivery capabilities
and support services as well as a base for further expansion in Asia
Pac, “said Coexis chairman Terry Williams. “The combination
of this local expertise and know-how and the rapid flexibility of
our next generation Syn applications
is unrivalled. It means we are ready today with settlements and reference
data applications for wholesale brokers which reflect Chinese trading
rules and regulations. We can hit the ground running and believe
we are the first global software house to do so.”
Today also marks the launch of SynBroker (see today’s
accompanying press release at pr22_synbroker.html),
an enhanced solution for brokers requiring on-line client order
capture through to settlement and accounting with multi-exchange
and multi-CSD (Central Securities Depository) functionality.
Tim Marsh, chairman of Hong Kong headquartered Serisys, carried
out an in-depth evaluation of capital markets software before seeking
to partner with Coexis and represent Syn in China and Asia Pac. “Speaking
as someone who has implemented back office systems for UBS, Syn is every CIO’s dream. It is a modern back office solution – not
rooted in the 1980’s like many of its competitors. Syn’s
architecture allows for change and evolution of existing applications
resulting in increased operational efficiency. By empowering business
users to develop new rules and respond to dynamic market opportunities
the overall cost of ownership is reduced.”
Serisys will deliver SynBroker and
other Syn applications
as a software service providing a cost-effective solution to Chinese
brokers as well as the global investment firms. The wholesale brokerage
market although fledgling is already large and set to grow exponentially
as the fund management industry takes off in China.
About Serisys
www.serisys.com
Serisys (whose name in Chinese means New
Thinking) is a Chinese company headquartered in Hong Kong providing
IT services to the capital markets and banking industries in China
and the rest of the Asia Pacific region. Services include Application
Service Provision (ASP) application implementation and application
support.
About Syn and
Coexis
Coexis, the creator of Syn®,
is an 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 SynBroker, SynSettlements, SynCustomer, SynFundsSupermarket, SynStruct and SynFixRouter.
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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
Tim Marsh, chairman, Serisys Solutions Limited 1201 Jubilee Centre
18 Fenwick Street
Wanchai, Hong Kong. T: +852 (2376) 3232 E:
tjmarsh@serisys.com