Exis Consulting, a provider of global debt market software solutions and services to financial institutions worldwide, announced on Tuesday the release of its TRAX2 software interface. This new functionality allows Exis clients to connect to one of the first MiFID-compliant reporting systems in Europe, says the firm. The London arm of an investment bank that focuses on emerging markets trading will be the first to roll out the new interface.
"MiFID has opened up many new and exciting trading opportunities for financial institutions in Europe," says Kuppu Sitaraman, CEO and founder, Exis Consulting. "The launch of our TRAX2 software interface illustrates Exis Consulting's commitment to helping our customers compete effectively in the marketplace and comply with the new regulations," he adds.
"With this integrated, modular support for TRAX2, our customers will benefit from the new ISO 20022 standard," says Joseph Colaprico, director, global services, Exis Consulting. "This is one way that we have enhanced and improved the straight-through-processing capabilities in the Genesis platform, ultimately saving our customers time, lowering their costs and reducing the potential for error," he explains.
Exis Consulting describes Genesis as an all-in-one application that delivers front-to-back functionality. According to the firm, traders can capture trades, review P & L blotters, monitor real-time positions and analyse risk. Operations staff can process transactions, submit confirmations and execute settlements. Securities accounting functionality including a full-multi-currency general ledger with detailed journal entries and a balance sheet complete the package.