Boston-based trading technology vendor MacGregor has signed London's Mondrian Investment Partners Limited to its hosted XIP Post-Trade system.
The vendor says the system will provide Mondrian with a single workstation for monitoring and managing all post-trade activity. The system will also provide ASP connectivity to Omgeo CTM and Swift.
In addition to matching, Mondrian will use MPT to communicate outbound trade notification messages via Swift and receive inbound cash reconciliation, corporate action and holdings reconciliation messages.
Commenting on the system, Jason Andrews, investment administration manager, Mondrian, says: "The ASP delivery model will enable us to outsource all of our existing post-trade hardware and software whilst retaining control over the full post-trade lifecycle. The Internet-based MPT Workstation will give us a consolidated view of all of our post-trade activity and enable us to move to a more proactive and exceptions-based processing model."
Stephen Alepa, EVP, client services, Macgregor, says Mondrian is the first firm to select MPT that is not already an order management client. The Macgregor system will be integrated with a third pary OMS by Mondrian.