Stanlib connects to Peresys FIX-enabled trading community

Source: Peresys

Stanlib, the third largest fund manager in South Africa with over 400 000 individual clients, recently joined the Peresys connected trading community enabling it to electronically route orders via the FIX Protocol to broker counterparties virtually anywhere in the world.

Stanlib makes use of the Charles River Development (CRD) order management system on its equity desk. With additional connectivity to the Peresys Business Process Network (BPN), Stanlib now has the means to actively route electronic orders to over 30 sell side brokers in South Africa alone.

By working closely with CRD and leveraging its six-year track record, Peresys was able to ensure a smooth transition from phone-based orders to a fully automated FIX-enabled model. The outcome empowered Stanlib to activate all their sell side counterparties in a single day.

Richard Bell, Director FIX Services at Peresys commented: "We are proud and delighted to welcome Stanlib as the latest memberof our rapidly growing connected trading community."

He continued saying: "In addition to reducing communication costs, Stanlib has created a focused trading environment that stimulates productivity allowing them to take advantage of automation and all the benefits it brings - less human errors, coping with growing volumes, and freeing up the desk from hurdles and distractions they experienced in their old manual environment."

Colleen Wolstenholme, STANLIB CRD Implementation manager highlights: "There are very obvious us benefits of being FIX enabled, apart from the evident time savings, STP and auditability, STANLIB will be looking to extract additional value by leveraging FIX to provide algorithmic trading capabilities and transaction cost analysis. We are pleased with the success of the Charles River project and the contribution of the Peresys team in getting us FIX compliant."

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