Model-based software for the global securities industry
Press release
Coexis announces Syn
Broker to reduce brokerage risk and aid compliance,
especially in emerging markets.
London, Hong Kong and New York, 28 March 2007 — London
and New York-based Coexis Limited, today launched SynBroker, a state
of the art solution for ASPs (Application Service Providers) to give
entire markets a one-stop brokerage application covering everything
from customer on-line trading, order management, settlement, right
through to accounting. As a new addition to the Syn range of next
generation software applications for capital markets,SynBroker is designed to help reduce brokerage risk by easing compliance and
improving client servicing. SynBroker is also very suitable for
large multi-branch retail brokers requiring rich functionality in-house.
“SynBroker can significantly alter the level of automation
and sophistication of financial service provision in an entire region,
while dramatically controlling costs for individual institutions,” says
Donal O’Brien, business development director at Coexis.
Coexis also announced that preparations are at an advanced stage
by Serisys Solutions Limited, Coexis’ newly announced partner
servicing Asia Pac (see today’s’ companion release: pr21_china.html),
to deliver SynBroker on
an ASP basis as a regional facility in China from a hosted facility
at Serisys’ regional development centre
located five miles from the Chinese border in the Hong Kong Science
and Technology Park.
Separately, Coexis also announced that SynBroker is being readied
as a countrywide solution in Egypt.
Sunil Shah, chief executive officer of Coexis said: “SynBroker is an ideal solution especially for emerging markets as it enables
brokers to conform to evolving regulatory compliance requirements,
demonstrate execution certainty, high security, deliver great customer
service and enhance overall efficiency, without the overhead and
time delay of setting up the in-house IT infrastructure. We have,
for example already modified Syn~Broker with a Chinese User Interface
and are including market connectivity to CCASS in Hong Kong and the
Shanghai and Shenzhen exchanges. This will enable brokers to have
a fully automated, exception based workflow driven back office solution
for China.”
SynBroker is another example of the “out of the box” industry-wide
business processing packs which Coexis has developed with SynDeveloper following success in settlements, FIX routing, funds supermarkets
and reference data.
Key benefits common to all Syn applications
include:
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Very high STP rates using automated interfaces and integrated real-time workflow and monitoring
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Flexible rules-driven lifecycles allowing complex operational structures to be modelled
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Easy extension to support dynamic business for changing markets, products or client services
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Support for true 24x7 global operations using scalable processing and contemporaneous end-of-day by geographical or business regions
Use of open standards such as FIX, ISO15022, XML and JMS for communication with internal and external systems
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.
-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