Wall Street Systems teams with Logicscope on FX trade processing
02 July 2007 | 2060 views | 0
Source: Wall Street Systems
Wall Street Systems, the leading provider of global treasury, trading and settlement solutions and services, today announced a new partnership with Logicscope, a market-leader in automated post-trade notification and straight-through-processing (STP).
Under the terms of the partnership, Logicscope's TradeSTP post-trade notification software will be integrated with the Wallstreet FX ASP solution. This will enable the clients of Wall Street Systems to receive details of executed trades in real-time, facilitating more efficient STP and enhancing operational risk management processes.
Wallstreet FX ASP gives clients the full benefits of Wall Street Systems' foreign exchange trade processing solution via a hosted service model. This allows them to run the currency management system on Wall Street Systems' servers rather than their own and benefit from 24/7 application management and support. Logicscope's TradeSTP is a multi-asset trade notification solution, which links bank, broker, and ECN liquidity providers with their customers.
"By integrating these two products, our clients will benefit from fully automated, real-time post-trade notification, which becomes increasingly more important as electronic trading volumes continue to soar," said Rick Schumacher, product manager at Wall Street Systems. "Our partnership with Logicscope is intended to further streamline transaction processing - freeing up resources and enabling our clients to focus on their core business activities."
Commenting on the partnership, Peter Collins, head of sales at Logicscope, said: "This alliance makes strategic sense - TradeSTP is an ideal complement for Wallstreet FX ASP, itself at the forefront of the booming FX trade processing market. Together we can significantly improve the post-trade environment for our mutual clients. We expect to see demand for our combined offering."
Clients accessing the integrated solution will be provided with fully integrated front-to-back office trade processing services and connectivity to a variety of ECNs, portals and brokers - all within a single hosted solution.