Wall Street Systems ("Wallstreet"), the global provider of treasury, trading and settlement solutions, today announces Equity Financial FX, Inc. ("Equity") as the first Canadian financial services firm, as well as the first FX broker, to sign for its Wallstreet ESN solution.
Equity Financial Holdings Inc. wholly owns Equity and is headquartered in Toronto, Ontario.
Equity will use Wallstreet ESN to provide superior FX services and combine it with their professional expertise to create a winning combination in currency and international payment services. They plan to add a brand new client web portal using Wallstreet ESN's web functionality. The solution will be hosted in Wallstreet's Canadian Data Center in Mississauga, ON with disaster recovery provided by Wallstreet's secondary Data Center in Vancouver, BC.
Mike Thrower, Director, Banking Sales for Wall Street Systems said, "The deal demonstrates Wallstreet ESN's flexibility to address the needs of the rapidly changing and expanding FX market in North America. Again, we proved that Wallstreet ESN enables our clients to overcome the legal, technological and regulatory challenges faced by FX institutions regarding the data privacy and security required of a hosted service. As the first Canadian firm to sign for Wallstreet ESN, Equity is paving the way for other Canadian financial services companies to employ a safe, auditable solution that allows FX Brokers to compete against the top players by reducing the cost burden and opening up access to a highly efficient trade processing infrastructure. It also allows them to scale up their operations quickly and efficiently using a proven hosted model."
Nick Kyprianou, President of Equity states "The solution will allow us to provide our clients with a greater range of services and gain new levels of control over trading operations. Based on close cooperation during the planning stages, we anticipate a very aggressive deployment of the full breadth of Wallstreet ESN's foreign exchange functionality including FX Sales and Trading tools, position management, e-trading, e-operations, back office, SWIFT interface, accounting and more. Wallstreet's hosted offering in Canada and subscription-based pricing were well suited to our aggressive goals to expand our business."