Wall Street Systems, a treasury, trading and settlement solutions and services provider, has announced the availability of new web-based functionality for its Wallstreet BackOffice solution.
The launch of Wall Street Systems’ e-Operations will extend back office efficiencies, while overcoming typical STP breakdowns, including payment netting and splitting, client on-boarding, manual matching and cash reconciliation. The new functionality enables Wallstreet BackOffice customers to give full visibility and control of all transactions to their institutional investor clients.
This new client-facing solution empowers corporate customers to gain information about their trade processing status online. They will also be able to manage and review their settlement and confirmation data and manage deal by deal settlement changes. Additionally, e-Operations enables online deal verification and settlement instruction repair, secure and authenticated confirmations on the web, validation and release of bilateral nettings and payments splitting.
Delivering 24×7 availability, the solution can be hosted either by the customer or via Wall Street Systems’ ASP model. e-Operations is delivered as a set of web pages that can be easily integrated into the existing web infrastructure of the bank. There is also a Java Object Toolkit version of the solution available for clients that want to develop it further to suit their needs. The solution is delivered as a blank template that can be branded through the use of cascading style sheets, client specific imaging and full international localisation.
“In an era of increased electronic and currency network dealing, corporate customers are demanding more from their banking partners both in terms of visibility and in terms of access to key information data,” says Tony White, global co-head of research and development, Wall Street Systems. “Through e-Operations, our clients can improve the service levels they deliver to their customers, ultimately streamlining and smoothing the interaction between the buy and sell sides.”
Wall Street Systems developed this product following consultation with its client base. e-Operations uses next generation web technology built on J2EE infrastructure which is complementary to Wall Street Systems’ execution applications. It externalises a subset of the core functionality of Wallstreet BackOffice to corporates, enabling financial institutions to redirect some of their operations personnel to other value added functions. The solution also provides optional treasury related functionality from deal reporting to profit and loss and cash management.