Daiwa Securities SMBC Europe (DSEL), incorporated in London (UK) is a wholly owned subsidiary of Daiwa Securities SMBC Co. an investment banking joint venture 60% owned by Daiwa Securities Group and 40% by Sumitomo Mitsui Financial Group.

DSEL has selected Financial Studio to serve as a single financial database for the organisation. The solution includes a financial products database, sub- ledger, rules engine and reporting database. Financial Studio will consolidate all trade and position data from all front office and settlement systems, apply data validation rules at various stages of processing, calculate valuation, P&L and cost-of-carry figures, generate IAS and UK GAAP accounting, and manage the financial balances. The solution will also ensure direct links between financial balances and underlying trade and position information and ultimately support all product control reporting.

Financial Studio will also become the primary source of data for downstream reporting systems including the regulatory reporting system, market risk system and reconciliation systems. Information from the Financial Studio database will be combined with information from DSEL's thin ledger to support the production of all management reporting.

The implementation of Financial Studio completes DSEL's target systems architecture following the successful implementation of a single consolidated static data system and middleware framework. This architecture will provide a robust, efficient and scalable platform for the future expansion of the business.

Graeme Muirhead, Managing Director Technology Division at Daiwa Securities SMBC Europe said "We went through an extensive software selection process and considered all of the various offerings on the market. FinArch, with their Financial Studio solution was the clear winner. The combination of the rich functionality of their offering with the professionalism and knowledge of their people during a proof of concept made them the obvious choice."

David Rodker, Executive Director currently head of DSEL's Product Control department, moving full-time on to the project management team, said "Having developed such a positive working relationship with the FinArch team through the selection and proof of concept process, we are excited at the prospect of creating our financial database and reporting environment with them. The expected improvements in reporting capabilities will contribute greatly to the management of the firm."

Nigel Lee, VP Global Business Development at FinArch comments "We have in a rather short space of time built a strong business partnership with DSEL and are delighted to work with Graeme Muirhead and his team at DSEL. Our industry and business experience empowers and enables us to ensure that our products and methodologies are flexible, scaleable and responsive to DSEL's needs."