Tieto launches stockbroking and private client wealth management platform in UK

Source: Tieto

Tieto, the leading IT services provider in Northern Europe today launched its full-asset, end-to-end, stockbroking and private client wealth management technology solution in the UK.

The UK and Ireland's financial community will now be able to optimise and automate their clients' multi-asset activities, from pre- to post-trade, in real-time, on single client accounts, and within a single business process.

Helene Helvik, Head of Capital Markets, Tieto, comments: "Tieto is a multi-national company that prides itself in having developed superb client relationships throughout Northern Europe, based on the quality of product, service and support of our automated business processes and STP solutions. Expanding our securities business into the UK is a natural next step for Tieto. Our current customers achieve STP rates of more than 99% using the Tieto Securities solution. Indeed, the majority of these clients will connect to the LSE's Millennium Exchange via the Oslo Stock Exchange when the system migration goes live, later this year. The UK is ripe for a single, end-to-end solution for private client firms, that covers all markets and all asset classes."

Delivered as a Software as a Service offering with an industry-leading client internet trading portal, the Tieto Securities solution automates the entire trade lifecycle, from execution through to settlement. Tieto Securities supports full multi-asset class private client and institutional trading requirements, together with a real-time middle- and back-office. From comprehensive trading access to all major UK trading venues and smart order routing for best-execution, to automated reconciliation, exception management and limit controls, to automated corporate action management, general ledger bookings and updating of CREST and Custodians, Tieto Securities enables truly optimised settlement efficiency.

Chris Gregory, Business Development, Tieto Securities, comments: "The UK's stockbrokers are faced with decreasing commissions and trading volumes, and growing costs. Tieto's solution provides these financial institutions for the very first time with the ability to deliver excellent, personalised customer service, across all financial instruments, at every stage of the trade lifecycle. The system enables real-time, online customised client and regulatory reporting at a cost that makes sense for the business. Tieto's fresh, client-focussed approach, backed up by a solid and robust European business with a large user base makes it the first real technology alternative this market has seen for some time."

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