Thomson Financial, an operating unit of The Thomson Corporation (TSX: TOC, NYSE: TOC) and a leading provider of information, news and technology solutions to the worldwide financial community, today announced the launch of Thomson PORTIA Settlements Solution, a complete end-to end platform that allows institutional asset managers to execute a seamless process, from trade execution and reconciliation to portfolio accounting and management.
Thomson is leveraging its technology by introducing two new modules - PORTIA Notify and PORTIA Recon - designed to give investment managers a competitive advantage in the support and service of their clients. PORTIA Notify supplies the automation and transmission of securities trade notification messages. PORTIA Recon provides for the reconciliation of securities holdings, transactions and cash between books and records of an investment manager and custodian banks.
Integration of the modules results in an end-to-end platform that offers the asset manager greater accuracy, improves external communications, enhances efficiency and control, and reduces headcount. Thomson worked closely on the project with Electra Information Systems, an innovator in reconciliation, trade automation and settlement solutions.
"Thomson PORTIA is evolving into a more comprehensive enterprise-wide accounting solution to meet the growing demands and sophistication of our global client base," said Christen Bremner, Managing Director, Thomson PORTIA. "PORTIA Notify and PORTIA Recon modules automate a number of manual middle-to-back office processes usually handled by additional personnel. By seamlessly integrating the modules with our world-class portfolio accounting system, asset managers gain convenient access to a comprehensive range of data and transaction information, all on single desktop," said Bremner. "What's more, the new functionality is highly complimentary with current capabilities and allows for the expanded use of PORTIA across business lines," added Bremner.
"We are delighted to support Thomson Financial in the development of the PORTIA Settlements Solution," said Ian Danic, Managing Director for Electra. "The newly integrated solution demonstrates the understanding Thomson has of the critical role reconciliation, trade automation and settlements solutions play in the market today," said Danic