TAS Group, a leading international provider of solutions for financial markets, and NewSOFT, a software development lab specializing in the financial sector and leader in Italy for OTC derivatives, entered a partnership to offer banks, financial intermediaries and trust companies joint solutions for the management of derivatives and securities.
The partnership covers the main European countries and addresses the impacts of EMIR, FINFRAG, T2S and Basel III regulatory compliancy.
The partnership is a result of previous successful collaborations that have seen the two companies jointly implement solutions targeted to customer banks throughout Italy, and will now strengthen the relationship through the implementation of a major international project in Switzerland to be started in the coming weeks.
Specifically, the cooperation between TAS Group and NewSOFT will focus on property trading and issuing back office, as well as on listed and OTC derivatives middle and back office plus regulatory reporting. Moreover, the joint effort aims to meet the new requirements to be introduced by MiFID II / MiFIR regulation.
“Thanks to the agreement with NewSOFT,” said Mario Mendia, Director of Capital Markets and Treasury Business Unit of TAS Group, “we are now able to offer European operators
a complete and flexible solution to manage securities, derivatives and cash that fully meets the regulatory changes underway and the customer demand to optimize the handling of various resources needed to operate.”
“The partnership with TAS Group will allow us to enhance and strengthen our commercial, project management and post-sales capabilities and to qualify ourselves as a leading partner on the national and European markets for the implementation of Capital Markets solutions both in house and as-a-Service,” said Francesco Cosi, CEO of NewSOFT.