London 3 April 2006 â Mitsubishi UFJ Securities International (MUSI) has gone live with Syn Settlements from Coexis. The ADP Wilco Gloss system has been turned off and the implementation project to standardise on Syn~ for workflow and lifecycle management of all MUSIâs cash markets settlements is complete.
"With Syn in place we are now able to address achieving high STP levels for an extended range of asset classes including the full range of fixed income instruments and securities financing transaction types such as repos,â said Don Simpson, managing director of operations & technology at MUSI. âWe have every reason to expect similar high levels of STP â at around 95 per cent - that we have already attained by using Syn for equity settlement and for counterparty static reference.â
Consistency of systems technology, which enables business analysts (rather than IT) to quickly and easily model or change business processes, take advantage of new opportunities and deliver the highest levels of customer service, is delivering greater business efficiency.
Syn Settlements is a flexible, rules- and lifecycle-driven back-office processing engine handling all transactions from trade capture through to ledger postings. Process automation is key in minimising the human involvement needed in processing a given transaction. Syn goes a step further in reducing operational costs and improving STP through its automated approach to exception handling for the correction and rapid repair of transactions.