London banking and securities software vendor Mondas has inked a six year contract to supply its flagship corporate actions processing technology, Radica Caps 4, to UK stockbroker JM Finn.
Mondas says the initial contract has a minimum value of £300K and includes a six year software licence and associated professional services. The remaining revenue will be retained from support fees over the period.
The vendor says the automated system features entitlement calculation, position management, notifications and outcome production for both equities and fixed income events. The framework can create a "golden record" from event capture and data scrubbing modules.
JM Finn will also deploy its EMP election management portal for use by front office decision makers.
Steven Sussman, managing partner, JM Finn comments: "The automation of corporate actions is critical to suppport our growth plans both immediately and in the long term. Radica CAPS will allow such growth and will also, through the use of the Web-based election portal, enable our fund managers to provide a much better service to our clients."