ITGE deploys Mercator's global securities solution
28 August 2002 | 3240 views | 0
ITG Europe (ITGE), operator of the Posit crossing system for 10 European countries, is using Mercator's global securities solution (GSS) to automate its electronic trade confirmation (ETC) matching utility.
The Mercator software is being deployed to route ETC messages to ITGE's institutional clients. This is done by automatically matching block level and allocation trades, for which ITGE has a 0% tolerance.
Since implementing Mercator's GSS, ITGE has streamlined its trade confirmation process and reduced turnaround times.
Yvonne Lovern, product manager at ITGE says: "Prior to Mercator, all matching was done manually. Now we have an STP rate greater than ninety percent."