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Financial Software Systems signs R.J O'Brien to Spectrum

18 February 2011  |  3289 views  |  0 Source: Financial Software Systems

Financial Software Systems, the leading provider of Risk and Portfolio Management Software announced that R.J O'Brien ("RJO") has selected the Spectrum System.

Chicago-based RJO will utilize Spectrum to enhance its front-to-back-office Foreign Exchange dealings in Spot, Forward, Non-Deliverable Forward, Swap, and Option contracts. Spectrum provides RJO with a highly automated platform for conducting collateralized trading activities with its FX clients around the globe. RJO clients will be able to view all of their FX trade positions and margin capacity in real time over the internet via the Spectrum FX Reporting Portal. Financial Software Systems will deliver Spectrum to RJO using its Software-as-a-Service ("SaaS") capabilities from its SAS 70 Certified hosting facility in Pennsylvania.

Spectrum will enable RJO to expand on its current FX offerings and services in the institutional marketplace. With Spectrum as its FX system of record, RJO will have all its FX trade and client-related data and processes in a single, fully integrated, platform. FX trades will flow directly into Spectrum from a number of electronic trading platforms which are seamlessly integrated to Spectrum. Front-office and middle-office components perform real-time limits and risk management calculations, and back-office components generate confirmations, payments and general ledger accounting entries. The implementation of Spectrum combined with the Spectrum FX Reporting Portal will allow RJO to realize both economic benefits and operational efficiencies in the execution of its FX trading activities.

Phil Fondren, Managing Director, Foreign Exchange at RJO, commented, "We are very pleased to have selected Spectrum. We found Financial Software Systems to be the most appropriate partner to provide the high level of service our clients demand. After extensive due diligence covering a wide range of vendor systems, we concluded that Financial Software Systems provided the optimal combination of system capabilities, especially related to client-facing functionality, and an experienced implementation and support staff that was best suited to our FX business. We look forward to a long and productive partnership with Financial Software Systems."

James McKeon, North American Sales Executive for Financial Software Systems, noted, "We are excited to partner with a premier institution such as R.J. O'Brien. As we continually invest in and improve Spectrum for the Broker-Dealer market, we are able to further enhance the return on investment that Broker-Dealers require to select new technology. RJO's selection of Financial Software Systems and Spectrum validates our leading position in this demanding marketplace."

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