Australian stockbroker Commonwealth Securities (CommSec) has signed a three-year contract with Misys Securities Trading Systems for its upgraded trading, settlement and margin lending systems, iBroker and iBroker Margin Lending.
The deal renews an existing contract with Misys, following an extensive review of systems available.
Michael Blomfield, chief operating officer of CommSec, says: "We opted to renew with Misys as it provided the only proven and flexible systems capable of handling large volumes of data and large volumes of transactions for the Australian market."
The upgrade of CommSec's systems includes the restructure and streamlining of its back office processes plus enhanced control of its client data. There will also be increased automation in the back office plus Internet access for advisors and direct broking staff.