FinancialOxygen has signed a partnership agreement with TPG Software to streamline the reporting and tracking of fixed income securities transactions between product providers, banks, thrifts and credit unions participating on its capital markets trading platform.
Under the agreement, financial institutions will use a Web-enabled version of TPG's Portfolio Genius product to electronically enter capital markets transactions directly into their financial reporting systems. The software can be accessed on FinancialOxygen's BankOxygen hub and its private label network, PrivateOxygen.
Currently, most mid-sized institutions manually transfer transaction data, incurring additional costs, time delays and inaccuracies in the process.
Robert Oxenburgh, CEO of FinancialOxygen, says: "By automating the reporting of bond portfolio activity, financial institutions have a terrific opportunity to improve their investment management process."
Portfolio Genius also enables CFOs, treasurers and corporate cash managers to conduct peer group analysis, develop composite trading data, run reports, and view the latest accounting accruals. By summer, BankOxygen and TPG Software plan to roll out additional functionality, including fully integrated asset and liability analytics.