UK software vendor Katotech is to develop a platform independent version of ISLend, the iSeries-based international stock lending system it inherited from the acquisition of JGH Computer Services.
The application automates the front and back-office processes required for running an international securities lending operation. It is a multi-instrument, multi-currency, multi-market system that manages pricing, quoting, availability, flexible allocations, settlements, collateral management, fees and revenues, corporate actions and exposure control for international securities lending. At the client's discretion it can either integrate to an existing back office securities system or replace it.
Commenting, Andrew Davey, managing director for Katotech says: "ISLend fits naturally with our core knowledge assets and technology skills and it was therefore a logical decision for us to acquire the solution. We are now also in the process of porting this software to a web-enabled open systems architecture."