Trace Financial today announced that Hargreaves Lansdown, a leading independent UK financial service provider and asset management specialist, is implementing a Crest interfacing solution supplied by Trace.
The main aim of the move is to provide Hargreaves Lansdown with the means of successively adapting their main settlements interface to the requirements of the forthcoming Euroclear Single Platform project.
At each phase of this complex project some transactions and reports will migrate to the Single Platform, while others will remain on legacy CREST.
Because it is built using configurable components such as message definition libraries and routing rules, Trace Financial's solution can be progressively re-configured to suit each stage of the project, without requiring extensive re-coding.
An early version of the solution has already been installed as a successful proof of concept, demonstrating end to end message flows. The full solution will be delivered for UAT in mid-September and will support a daily volume of several thousand trades.
Neil Sutton, Project Manager at Hargreaves Lansdown stated: "We selected Trace because of their impressive knowledge of the intricacies of CREST messaging, their proven track record in providing resilient interfacing solutions and their close involvement with the Euroclear Single Platform project. We look forward to developing this successful relationship in the months and years to come".
John Murphy, Managing Director of Trace Financial, said: "We are delighted to welcome Hargreaves Lansdown as a new and highly valued customer. The solution being implemented shows the great benefits to be gained from using configurable technology. Our clients get a tailored solution that fully meets present requirements while being adaptable in the face of future change".