The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Mitsubishi Extends Syn~ Platform To Full Range of Cash Markets

Share article

Mitsubishi UFJ Securities International plc (MUSI) has extended its use of Coexis’ Syn~ workflow and data management products to cover its full range of cash markets settlements. The aim is to achieve high levels of straight-through-processing across all cash markets asset classes by using standardized underlying technology based on the Syn~ platform.

Syn~ was already in use at MUSI, says Don Simpson, managing director of operations and technology, “For equity settlement and for counterparty static reference”. In this area the firm has achieved straight-through-processing rates of around 95%. Simpson says, “We have every reason to expect similar high levels of STP (with the extended rollout)”.

The extension applies the Syn~ workflow and lifecycle management system to the Japanese securities firm’s full range of fixed income instruments and securities financing transaction types such as repos, says Simpson. MISU is also involved in derivatives, exotics and new issues.

With this rollout, the existing ADP Wilco Gloss system has been “turned off”.

The Syn~ Settlements product is a rules-driven processing engine for handling all transactions from trade capture through to ledger postings. Its automated approach to exception handling for the correction and repair of transactions is credited with reducing the need for human intervention, thereby reducing operational costs and improving STP rates. The technology also enables business analysts, rather than IT staff, to model or change business processes.

Coexis recently sold a 20% stake in its company to Atos Euronext Market Solutions, Euronext’s 50:50 joint venture with French IT services company Atos Origin (MiFID Monitor, March 2006).

Related content

WEBINAR

Recorded Webinar: New data, old data, no data: How do you solve the data problems of MiFID II and FRTB?

Don’t miss this opportunity to view the recording of this recently held webinar. Markets in Financial Instruments Directive II (MiFID II) is kick starting the generation of a broad range of new content sets that will power not only MiFID II, but also FRTB. The webinar will discuss emerging data sources and datasets, their potential...

BLOG

Xenomorph Moves from Product to Solution Sales, Drops TimeScape Brand But Not Technology

Xenomorph has regrouped and is chasing growth following the appointment of Neil Sheppard to lead the EMEA and APAC business, a reset to solution rather than product sales, and restructured funding. The company has been pretty low-profile in the market over the past few years, particularly since Brian Sentance stepped down from the role of...

EVENT

Data Management Summit New York City

Now in its 10th year, the Data Management Summit (DMS) in NYC explores the shift to the new world where data is redefining the operating model and firms are seeking to unlock value via data transformation projects for enterprise gain and competitive edge.

GUIDE

The Data Management Implications of Solvency II

Bombarded by a barrage of incoming regulations, data managers in Europe are looking for the ‘golden copy’ of regulatory requirements: the compliance solution that will give them most bang for the buck in meeting the demands of the rest of the regulations they are faced with. Solvency II may come close as this ‘golden regulation’:...