Deutsche Bank, a long-term client of global financial technology provider GBST (ASX:GBT), has been named as the Best Operational Broker for equities processing in Australia in DTCC’s Institutional Trade Processing’s 2018 Rankings.
The Bank implemented GBST’s Syn~TAC and Syn~ANG for equities trade processing in 2017, realising immediate operational benefits. The operational efficiencies achieved since implementing the platform have now been recognised in DTCC’s annual broker rankings.
Nigel Swinbank, Deutsche Bank Middle Office Manager, commented:
“The implementation of Syn~ in May 2017 has improved our operational efficiency by reducing the manual touch points within our post-trade client services.”
“It has enabled us to streamline the operations of our equity trade processing, leading to improved speed and accuracy over our client confirmations.”
Denis Orrock, Head of Asia Pacific, GBST, also commented:
“We’re always pleased to see our clients recognised for their efforts and it’s fantastic that our solution for Deutsche Bank has had such a tangible impact on their operations in a relatively short time.
“This independent industry benchmark validates the investment that GBST has made in maximising process automation within the Syn~ platform.”
DTCC, provider of clearing and settlement services to global financial markets, tracks Trade Date Agreement rates as a measure of operational efficiency to drive competitive advantages.
Syn~TAC enables GBST clients to automate trade matching and affirmation which helps them meet the DTCC’s Institutional Trade Processing goal of 'a no touch post-trade workflow'.
Syn~TAC, the most modern equities and fixed income middle office engine on the market powers some of world’s leading broker-dealers performing bookings, allocation, affirmation and confirmation functions in a fully workflow-enabled, browser-based solution.