18 August 2017
Find out more

SunGard adds processing capabilities for Moroccan securities industry to GL Rims

14 October 2009  |  1273 views  |  0 Source: SunGard

SunGard has enhanced GL Rims, its securities post execution processing solution for the middle- and back-office, to include securities processing capabilities specific to the Moroccan securities industry.

The GL RIMS solution provides comprehensive post-execution processing, including matching with the daily market positions updates received from the Casablanca stock exchange in real-time, to generating regulatory reports, including local bills such as Circulaire 03/97 and Circulaire 04/97. It will also cover processing allocations, enriching trades with charges and managing settlement of market execution through the Maroclear interface, the local clearing house. In addition, counterparty position information can be pushed to the front-office for pre-execution risk management.

GL RIMS supports existing and upcoming specific files in the current Maroclear interface, including AOE, ARE, AOR, RMQ, RCQ, AOC and REQ files. It has also been enhanced to include market trades settlement recording capabilities to support the new Maroclear interface.

The system can generate confirmations and reports in French, Arabic and English and user screens are also available in the user's chosen language. The functionality is fully integrated with the global middle- and back-office capabilities of GL RIMS. This means that Moroccan brokers who are expanding in overseas markets will be able to benefit from GL RIMS's multi-company, multi-market, multi-currency and multi-language capabilities.

Vincent Burzynski, chief product officer for SunGard's global trading business unit, commented: "SunGard has always been committed to adapting its solutions to meet the evolving needs of brokers according to their local environment. Our knowledge of the Moroccan securities industry - we have been providing connectivity to the Casablanca stock exchange since 1996 - means that we are well placed to understand the competitive challenges for Moroccan brokers. The enhancement of GL RIMS means that we can now support Moroccan brokers with processing trades through the new Maroclear interface, as well as attract new clients from outside the region."

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
download the paper nowvisit www.worldpaymentsreport.comvisit www.dorsum.eu

Who is commenting?

Top topics

Most viewed Most shared
China preps central clearing house for mobile payments providersChina preps central clearing house for mob...
10147 views comments | 8 tweets | 16 linkedin
Monzo appoints Curve co-founder Foster-Carter COOMonzo appoints Curve co-founder Foster-Car...
8412 views comments | 1 tweets | 3 linkedin
hands typing furiouslyCompliance: Overcome the data deficit
7848 views 0 | 1 tweets | 9 linkedin
Uneasy sits the crown as cash use continues declineUneasy sits the crown as cash use continue...
7776 views comments | 3 tweets | 7 linkedin

Featured job

Find your next job