12 December 2017
visit www.avoka.com

BNY ESI and Metavante forge STP link

07 November 2000  |  2452 views  |  0 BNY ESI and Metavante forge STP link

BNY ESI, an electronic trading subsidiary of the Bank of New York, has developed an interface for processing trade orders and executions directly from the Metavante trust accounting system.

Currently in beta testing at several institutions, the solution will enable trust departments, which are Metavante clients, to use BNY ESI technology for launching US equity trades directly from the Metavante trust accounting system.

The interface enables users to initiate orders in the Metavante system and then routes the transaction to BNY ESI for execution based on user-defined criteria. Execution information from BNY ESI is then automatically transmitted to Metavante, facilitating trade clearance, settlement and client accounting.

"Combining BNY ESI trading with Metavante is an optimal solution for our clients to manage their customers' order flow," says Owen Sullivan, president, financial services group, Metavante.

Stephen Shloss, president and CEO of BNY ESI, comments: "With industry initiatives such as decimalisation, T+1 and extended trading hours quickly becoming realities, financial services providers are seeking ways to close the gap between trade processing and customer accounting."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit http://info.nice.comvisit www.response.ncr.comvisit www.aciworldwide.com

Who is commenting?

Top topics

Most viewed Most shared
Saxo Bank's 'Outrageous Prediction': Bitcoin to peak at $60k next year before spectacular crashSaxo Bank's 'Outrageous Prediction': Bitco...
11781 views comments | 7 tweets | 7 linkedin
Deutsche Bank paper hails 'huge' blockchain potentialDeutsche Bank paper hails 'huge' blockchai...
8683 views comments | 15 tweets | 21 linkedin
Santander UK poaches Barclays innovation chief Michael HarteSantander UK poaches Barclays innovation c...
7071 views comments | 8 tweets | 17 linkedin
Alior Bank to use Open API platform and accelerator to create fintech marketplaceAlior Bank to use Open API platform and ac...
6813 views comments | 20 tweets | 11 linkedin
PSD2: Laying the regulatory foundation for a new age in paymentsPSD2: Laying the regulatory foundation for...
6728 views comments | 17 tweets | 35 linkedin

Featured job

Find your next job