GBST Holdings Limited (ASX: GBT), “GBST”, a global provider of securities transaction and fund administration software for the financial services industry, announces Haitong International Securities Group Limited (“Haitong International”, Stock Code: 665.HK) has successfully gone live with its Syn~ capital markets platform in line with a stipulated twelve week implementation timeframe.
GBST relied on its extensive domain knowledge and implementation skills to ensure the success of the project.
One of the leading financial institutions in Hong Kong, Haitong International has adopted the internationally accredited GBST Syn~ platform to create a new institutional middle-office solution that is now a key component of its business expansion. As it experiences rapidly growing trading volumes, the global institutional business needs an automated middle-office with low-latency matching and confirmations capability.
Andrew Sullivan, Managing Director of Sales Trading, Haitong International said: “We are happy with the adoption of the internationally accredited system GBST Syn~, we are looking forward to receiving positive feedback from our clients.”
GBST Syn~’s workflows cater for a wide range of scenarios to cover both standard market practices as well as those specific to Haitong International’s processes. This has resulted in a highly automated flow with minimal manual steps. A subsequent implementation phase, to be completed early next year, will see the configuration of further confirmation functionality.
Donal O'Brien, GBST’s CEO Asia, said: “This is a great result for GBST and Haitong International. The success of this first implementation has built confidence in our ability to work together in what we see will be an ongoing, highly beneficial partnership. It is also a further demonstration of GBST’s success in providing internationally accredited systems to global investment banks in the Asian region.”