Societe Generale Securities Services (SGSS) has consolidated and developed its System for Management of Issue-Linked Events (SMILE) in order to provide enhanced middle office services to investment banks and issuers worldwide. This totally automated system allows SGSS’ dedicated teams, based in Luxembourg, to provide an issue-linked proposal within a record-breaking 3 hours of a request for proposal.
This reactivity is based on state-of-the-art technology that assures clients, investors and issuers, of complete, top-class quality services. SMILE, which has recently been upgraded, includes a database which contains comprehensive information on the issue of securities and enables the tracking of interest payment dates and maturity dates, and a reporting tool. The main innovation of this platform allows SGSS to increase its Straight Through Processing rate and to improve the quality and reliability of its services alongside reduced operational risk. Thanks to this system, clients receive notice of corporate and other events within a very short time period. SGSS thus manages put and call options, share redemptions, instalment collections, partly paid issues and buybacks.
SGSS provides a full range of middle office services for a broad range of sovereign, supranational or assimilated issuers of international securities and acts as issuing agent, Luxembourg listing agent, principal paying agent and calculation agent on traditional and complex products in a wide range of currencies. Between 2010 and 2011, SGSS has experienced a 50% increase in its issuer activities and continues to win mandates for new issue programmes and stand-alone issues.
A growing number of issuers are seeking to outsource middle office services to a recognised expert with an outstanding track record. SGSS, with over 40 years experience in Luxembourg managing complex debt products, guarantees its clients – major corporations and leading financial institutions – services which correspond to the demands of a quality management of corporate events.