Source: EXIS Consulting
EXIS Consulting, a leading provider of global debt market software solutions and services to financial institutions worldwide, today announced the release of its TRAX2 software interface.
This new functionality allows Exis clients' to seamlessly connect to one of the first MiFID-compliant reporting systems in Europe. The London arm of a major Investment Bank that focuses on emerging markets trading will be the first to roll out the new interface.
"MiFID will open up many new and exciting trading opportunities for financial institutions in Europe," says Kuppu Sitaraman, CEO and Founder at EXIS Consulting. "The launch of our TRAX2 software interface illustrates EXIS Consulting's commitment to help our customers compete effectively in the marketplace and comply with the new regulations."
"With this integrated, modular support for TRAX2, our customers will benefit from the new ISO 20022 standard," says Joseph Colaprico, Director of Global Services at EXIS Consulting. "This is one more way that we have enhanced and improved the straight-through-processing capabilities in the Genesis platform, ultimately saving our customer time, lowering their costs and reducing the potential for error."
EXIS Consulting's Genesis is an all-in-one application that delivers seamless front-to-back functionality combined advanced technology. Traders can capture trades, review P/L blotters, monitor real-time positions and analyze risk. Operations staff can easily process transactions, submit confirmations and execute settlements. Securities accounting functionality including a full-multi-currency general ledger with detailed journal entries and a balance sheet complete.
TRAX2 is the post-trade, pre-settlement, trade matching and regulatory confirmation system for the OTC market. Financial institutions can use it to report to multiple regulators throughout Europe in accordance with Article 25 of MiFID and process all financial instruments and asset classes.
TRAX2 builds on the success of the original TRAX system, operated by the International Capital Market Association (ICMA) Ltd. since 1989. TRAX has about 200 subscribers, and it processed more than 45.5 million transactions in 2006.