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Modernity, flexibility and scalability of Syn~ solutions secure global deal for Coexis from CLSA for securities processing and enterprise-wide data management.
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13 November 2007
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Strategic deal marks first major contract for Syn~ in Asia-PAC.
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London, Hong Kong and New York, 13 November 2007 − London and New York-based Coexis announced today that it has signed a global contract with Hong-Kong based CLSA Asia-Pacific Markets (“CLSA”), Asia’s leading independent investment banking and brokerage services provider. The agreement is to deploy Syn~ for securities processing and enterprise-wide reference data management. Syn~ will be the primary processing system for CLSA Transaction Management at its Global Operations Centre in Singapore. Syn~ will then be further deployed in nine regional offices in addition to London and New York.
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Key factors in CLSA’s decision were the ability of Syn~ to deliver an enterprise-wide reference data management solution, specifically for capital markets, securities, counterparties, standard settlement instructions and market data, as well as ease of integration within the existing CLSA architecture, based on SOA (service-oriented architecture).
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Syn~ meets CLSA’s securities processing requirements to scale to extremely large and increasing volumes across all of Asia’s primary financial markets. Syn~ is more than just another settlement system; it will allow CLSA to further enhance the efficiency and control of its securities business. Straight through processing rates will increase and exception management will become intelligent, dynamic and controlled. Rajah T, chief information officer for CLSA, said: “This is a strategic purchase for CLSA. Syn~ offers unique features that meet CLSA’s business roadmap, including flexible and scalable business solutions to cater for exponential growth. The work flow-based approach complements our ambitions to transform trade processing.”
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Sunil Shah, chief executive officer of Coexis said: “Scalability is the single biggest issue faced by Asian brokers today and one that Syn~ uniquely solves cost-effectively through its underlying grid-based technical architecture. More and more firms are discovering that their existing settlement systems − whether packaged solutions or in-house built, simply cannot scale efficiently or in a timely manner to cope with rising volumes in the Asian marketplace. None of our competitors have a current solution to this problem today. Even banks with in-house developed solutions are struggling and many in Asia-PAC are now evaluating Syn~.”
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Additionally CLSA has subscribed for the Syn~Developer licence, an integrated development, testing, deployment and operational environment with an out-of-the-box library of rich industry-standard models for Global Capital Markets. This will allow CLSA to build enterprise-class, distributed transaction processing applications in a timely manner. These models are easily extended without conventional coding, using embedded graphical configuration management, version control, and deployment tools.
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Coexis will be working with Serisys Solutions Limited, its recently appointed Hong-Kong based partner, to deliver and support the various Syn~ solutions in CLSA.
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About CLSA www.clsa.com
CLSA Asia-Pacific Markets is a leading, independent investment group in Asia focused on delivering investment banking, capital markets, equity broking and alternative investment services to global corporate and institutional clients.
CLSA is one of Asia’s largest independent equity brokerages and one of the world’s largest agency brokers. The group’s investment banking and equity capital markets services include M&A advisory, equity transactions and public offerings. Alternative asset management is offered through eight Asia-based funds under CLSA Capital Partners.
Renowned for its product innovation and award-winning market intelligence, CLSA has built its reputation on unrivalled equity research and economic analysis which is consistently voted as the best in Asia. CLSA ranked No.1 for Most Accurate Research in Asia in Bloomberg’s poll 2006; No.3 overall in Institutional Investor’s All-Asia Research Poll 2006; and No.2 in The Asset’s Asian Equities Benchmark Survey 2005.
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About Serisys www.serisys.com
Serisys is headquartered in Hong Kong and provides IT services to the capital markets and banking industries in China and the rest of the Asia Pacific region. Services include Application Service Provision (ASP) application implementation and application support.
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About Syn~ and Coexis www.syn.com
Coexis, the creator of Syn~®, provides next generation software technology and applications which meet the dynamic business needs of the Global Capital Markets. Syn~ is built using current state-of-the-art technology and engineered specifically to solve the market need to process exceptionally high volumes. Syn~ solutions allow an organisation to re-engineer and automate business processes through its unique rules-based and application lifecycle approach. As a result users gain the perfect alternative to high cost bespoke solutions or rigid off-the-shelf packages. Coexis solutions include Syn~Broker, Syn~Settlements, Syn~Customer, Syn~Funds, Syn~Struct and Syn~Clear.
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Press contact: Salli Roskilly Saffron Communications Limited T: +44 (0)1763 208708
E: salli(at)saffroncoms.com
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Further information:
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UK:
Sunil Shah, chief executive officer, Coexis Limited Victoria House Second Floor 64 Paul Street London EC2A 4NG
Tel: +44 (0) 20 7613 8800 E: sunil.shah(at)coexis.com
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USA:
Roy Staines, managing director US operations, Coexis Inc 75 Broad Street New York NY 10004 USA
T: +1 646 649 9380 E: roy.staines(at)coexis.com
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Hong Kong:
Tim Marsh, chairman, or HK Mo, chief executive officer, Serisys Solutions Limited 1201 Jubilee Centre 18 Fenwick Street Wanchai, Hong Kong.
T: +852 (2376) 3232 E: tjmarsh (at) serisys.com or hkmo(at)serisys.com
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