KPMG Consulting has forged an alliance with Mercator Software to offer combined application-to-application (A2A) and business-to-business (B2B) solutions, including technology and service teams, to joint customers worldwide.
The two companies will begin by providing banking, investment, and brokerage clients with complete software and services for the implementation of trade and settlement standards set by the Global Straight Through Processing Association (GSTPA).
Under the terms of the agreement, KPMG Consulting will provide systems integration and support services in combination with Mercator's Global Securities Solution. Mercator GSS is the first commercially available solution designed to connect financial institutions with the GSTPA's post-trade processing engine, the Transaction Flow Manager (TFM).
To date, Mercator GSS has been selected by eight of the twelve financial institutions in the GSTPA pilot programme that have chosen integration providers.
Sid Pai, managing director, KPMG Consulting, comments: "The GSTPA initiative is critically important, and Mercator GSS is a powerful way to leverage it on behalf of our joint customers...Ultimately, we can help customers acquire an efficient electronic flow of trade and portfolio information which is complete, accurate, and timely and may result in substantial internal savings."