Thomson Financial, an operating unit of The Thomson Corporation (TSX: TOC, NYSE: TOC), and leading provider of information and technology solutions to the global financial community, today announced it has begun the delivery and implementation of PORTIA and Oneva Trade EQ (PORTIA/EQ) to BISYS (NYSE: BSG) Fund Services, a leading provider of mutual fund outsourcing services.
PORTIA is the investment industry's most powerful and comprehensive portfolio management system, automating the trading, analysis and operations of money managers in 40 countries. It provides flexible reporting, support for all security types, full multi-currency capabilities and real-time processing. The Oneva Trade EQ order management system is fully integrated with PORTIA, linking traders with brokers, exchanges and electronic connectivity networks for true straight through processing. BISYS also is deploying the Thomson Automated Import Manager (AIM) solution to streamline integration with applications and workflow around PORTIA/EQ. The AIM seamlessly handles backdated transaction activity, cancellations and corrections. The browser-based front-end provides a dashboard for the operations staff to manage exceptions. The project is well under way and expected to go live in Q3 2004.
"The addition of PORTIA/EQ and AIM enhances BISYS' Wealth Management Solutions offerings and our ability to meet growing client needs in new and alternative investment vehicles," said Kevin M. Keefe, CFA, senior vice president of BISYS Wealth Management Solutions. "Thomson Financial workflow solutions were chosen, following an extensive review process, for their proven flexibility in handling unique client requirements, their scalability to handle large account volumes, and ease-of-integration with BISYS' operational workflow," said Keefe.
"Thomson workflow solutions will empower BISYS to streamline workflow and create scalable offerings while increasing efficiency and reducing costs," said William Haney, senior vice president, Thomson Financial. "PORTIA/EQ is the investment industry's leading workflow solution for the management of client portfolios, transaction processing, order management, performance generation and reporting. At the same time, it provides the flexibility to meet industry requirements and future needs," said Haney. "Thomson Financial is becoming a major provider to all areas of the wealth management arena, including front-, middle- and back-office. In addition to PORTIA/EQ, our solutions include industry leaders Thomson ONE Advisor, Beta and Vestmark," added Haney.