Moscow Narodny Bank chooses Gissing Software & Fingertip Developments to provide STP solution
Partnership enables STP for users of ICMA’s TRAX service
London, 24 October 2005 - Gissing Software, a leading supplier of software and services for real-time trading, today announced it has entered into an ongoing partnership with Fingertip Developments, software specialists for the financial markets, to deliver straight through processing (STP) for the current and future functionality of the International Capital Market Association’s (ICMA) service, TRAX.
Gissing Software and Fingertip Developments have been working together to supply Moscow Narodny Bank Limited (MNB) with Gissing Trade Capture and Fintracker®, to enable STP. MNB operates the combined solution to support its use of TRAX, which matches trades between counterparties and forwards trade details to the appropriate regulatory bodies. By combining technology from Gissing Software and Fingertip Developments, MNB has a high-performance, robust and reliable platform on which to complete its reporting and support its bond business. MNB will continue to receive these benefits once ICMA’s extended functionality is introduced.
ICMA’s upgraded TRAX ORC trade matching and regulatory reporting service, due out in 2007, will introduce two new messaging formats, ISO 20022 and ISO 15022, replacing TRAX Series 6 messaging. Gissing Software has worked with Fingertip Developments to ensure that Gissing Trade Capture and Fintracker provide an STP solution which is capable of handling the new messaging formats.
Gissing Trade Capture provides a seamless real-time interface from multiple ECNs and ATSs. It links trades completed on those systems with internal or external systems ensuring the trades are directly integrated into back office systems. Fintracker is an automated trade entry and receipt interface that allows clients to send trades directly from any number of trading systems to ICMA. The combination of technology from Gissing Software and Fingertip Developments creates an STP solution which is Microsoft Windows based; and therefore ensures easy implementation, low maintenance and a high return on investment.
Steve Humphries, Senior Manager, Operations, MNB, said: “TRAX is integral to our business operations, by using a combined solution from Gissing Software and Fingertip Developments we have improved our STP and the man hours saved have been substantial. The technology from both companies works seamlessly and has proved to be reliable and stable. It will continue to deliver these benefits even after the proposed changes from ICMA.”
Adrian Gumbley, Managing Director, Fingertip Developments commented: “Working with Gissing Software has ensured that we supply our customers with the very best technology available to support their use of TRAX. Gissing Trade Capture combined with Fintracker offers a unique and advanced product, unlike other solutions based on older UNIX or non Wintel architectures.”
- Ends -
About Moscow Narodny Bank
Moscow Narodny Bank is a London headquartered bank incorporated in 1919 and authorised and regulated by the Financial Services Authority (FSA). With offices in Russia, Singapore and China, the Bank provides comprehensive commercial and capital markets banking services to a broad range of clients, both in its niche Russian market and globally.
The Bank is UK registered and is majority Russian-owned. As of 31 December 2004, the Bank had assets of GBP1.03 billion. MNB has long term ratings of BBB- from Fitch and Baa3 from Moody’s.
For more information on Moscow Narodny Bank’s products and services, please visit www.mosnar.com
About Fingertip Developments
Fingertip Developments has specialised in supplying both products and consultancy to organisations in the Finance and Banking arenas since 1999. The following products are offered in the areas of global agent bank/custodian network management and trade matching/regulatory reporting: Elemes NM – Your partner in global agent bank network management.
Elemes NM gives you: greater transparency; reduced costs by eliminating duplication of relationships; assurance that you are getting value for money; reduced risk by providing a diary and document management system; customised access to your network information for all levels of internal personnel and extensibility to adapt to your long term business requirements.
Fintracker® – Fingertip’s automated trade entry and receipt interface to the International Capital Market Association’s (ICMA’s) over the counter trade matching and regulatory reporting system, TRAX. Fully featured and cost effective, giving automated ICMA TRAX capabilities to any number of straight through processing (STP) or stand-alone trading/settlement systems.
For more information on Fingertip Developments products and services, please visit www.fingertip-developments.com
Contacts
About Gissing Software
Gissing Software, solution specialists in the routing and transformation of real-time market and trade data, was founded in 1991. Gissing Software counts some of the world's biggest financial institutions among its clients. Almost all of Gissing’s clients are tier one banks and brokers. With over 40 installations globally, Gissing’s products are a byword in the industry for performance and reliability. The company is privately owned and operates from its head office in Bromley, Kent (UK) and its office in New York.
Gissing Software has extensive knowledge of the technology associated with the transforming and routing of real-time data in the financial markets.
Product area focus:
- Multi contribution systems for management and distribution of market data to financial data vendors and partnering businesses.
- Real-time Solutions for Excel used by financial professionals in analytics, trading, pricing, data contribution and administration
- Trade data capture transformation and system integration for fixed income securities, FX and other investment instruments
- Market aggregation gateways to a single trading console for traders in fixed income securities and other investment instruments
For more information on Gissing Software products please visit: www.gissing.com
Contacts
|
