GBST Holdings Limited (ASX: GBT), "GBST", a global provider of securities transaction and fund administration software for the financial services industry, announces today that it has entered into an agreement to provide Haitong International Securities Group Limited (“Haitong International”, Stock Code: 665.HK) an institutional middle office solution utilising GBST’s award winning Syn~ platform.
This implementation is expected to go live by the end of 2015.
Donal O'Brien, CEO Asia - GBST said: “We are thrilled to be working with Haitong International, one of China’s leading financial institutions, as part of their international business expansion. Through GBST’s Syn~ platform, Haitong International will further enhance their existing process to better handle significant trading volumes with a low-latency matching and confirmations capability”.
“Haitong International continues to expand and develop new business lines. A key component of this is the adoption of internationally accredited systems such as GBST Syn~”, said Andrew Sullivan, Managing Director of Sales Trading, Haitong International. “We believe that GBST’s middle-office will allow us to respond to market changes and increased customer demands in an efficient and timely manner.”
The GBST Syn~ application is a rules-based, workflow-driven solution that allows easy integration with existing systems. It is designed to provide high automation across the full range of middle and back-office operations, achieving streamlined operations with reduced risk and cost.
“This contract with Haitong further demonstrates our commitment to the Asian region”, said Denis Orrock, CEO of GBST Capital Markets. “GBST has a long history providing solutions to Global Investment Banks within the region, working with Haitong International is representative of our strategy to leverage our international experience and engage within local and regional market participants.”