SmartStream, the financial Transaction Lifecycle Management specialist, today announced that CMC Markets, a world leading financial spread betting, CFD trading and FX trading company, has gone live on TLM OnDemand, SmartStream's SaaS reconciliation service.
Founded in 1989, CMC Markets is a UK-based firm with a reputation for innovation, having pioneered the delivery of FX trading on the internet to private investors via its trading platform, 'Marketmaker' in 1996. To further enhance its operational efficiency and client service, CMC Markets selected SmartStream's TLM OnDemand that offers the market leading reconciliations functionality as fully managed service. Furthermore, the rapid implementation programme offered by the service would enable the firm to quickly benefit from highly automated transaction processing that lowers exceptions and improves operational efficiency. After a short period of internal testing, TLM OnDemand in now live at CMC Markets processing the firm's cash transactions.
Colleen Bohm, Finance Systems Manager at CMC Markets, commented: "TLM OnDemand was attractive because it introduces automated transaction processing with proven technology that will enable us to improve efficiency and lower costs. Being a SaaS-based solution it has benefitted us through a rapid implementation programme that has helped to minimise project start-up costs and ensured a faster time to market. It is testament to the collaborative effort between CMC Markets and SmartStream that we have, in a short period of time managed to install, test and go live with an entirely new solution for our back office environment."
Richard Cummings, Executive Vice President at SmartStream Technologies, commented: "Many firms are looking to introduce technology to make their operations more efficient but are also mindful of resourcing these projects and their timescales. TLM OnDemand removes these barriers, offering a rapid implementation and testing phase that enables firms to be live within a matter of weeks. I'm delighted that CMC Markets has successfully gone live on TLM Demand and can now benefit from the market-leading reconciliations functionality of TLM through our innovative SaaS-based model."