Brewin Dolphin Securities, a U.K.-based private client portfolio manager and stockbroker, went live last month with an integrated STP solution using Telekurs Financial’s corporate actions data delivered via the ISO 15022-based Valordata feed delivered to Mondas’ Radica Caps corporate actions processing software.
With this web-based solution, Brewin Dolphin can select securities on a daily basis for same-day delivery by Telekurs with elections and transactions taking place in real time. The Radica Caps solution is run centrally and accessed via a browser, removing the need for high-end hardware at the desktop and allowing for flexibility in adding new users.
Brewin is a long-time Mondas client and one of the earliest adopters of Radica Caps, going live with its initial implementation in April 2001. At the time, Brewin Dolphin used Caps and data from Exchange Data International (EDI) to replace all paper processes with a single electronic process for 830 desktops.
Prior to the Caps installation, Mondas provided Brewin with a GUI to its legacy settlement engine, enabling investment managers to carry out functions such as portfolio management and capital gains tax calculations.
The company began the switch to the new platform, with a decision to adopt the new ISO 15022-based version of the Telekurs Valordata feed last spring (Reference Data Review, May 2005), becoming an early adopter of the offering from the Swiss vendor.
Brewin Dolphin manages over £16 billion of funds on behalf of more than 100,000 clients, employing 600 fund managers in 34 offices throughout the U.K. Other Radica Caps clients include HSBC, Credit Suisse First Boston, Credit Suisse Asset Management, GNI/Man and Close Wealth Management.