17 March 2018

SunGard adds processing capabilities for Moroccan securities industry to GL Rims

14 October 2009  |  1300 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)
Visit www.nextgenbanking.co.ukvisit www.ebaday.com

Top topics

Most viewed Most shared
Augmentum Fintech raises £94m in IPOAugmentum Fintech raises £94m in IPO
11704 views comments | 25 tweets | 5 linkedin
Indian fintech sector needs regulatory support to flourishIndian fintech sector needs regulatory sup...
6655 views comments | 8 tweets | 7 linkedin
BIS warns central banks on digital currency issuanceBIS warns central banks on digital currenc...
6406 views comments | 18 tweets | 17 linkedin
Capital One virtual assistant can now issue virtual card numbersCapital One virtual assistant can now issu...
6165 views comments | 12 tweets | 11 linkedin
Starling and TrueLayer integrate for open bankingStarling and TrueLayer integrate for open...
6128 views comments | 13 tweets | 9 linkedin

Featured job

Basic c. EUR 90K OTE c. EUR 180K plus full bene...
Paris (preferred) or London

Find your next job