- Allows the exchange of payment and other settlement instructions with external systems
- Seamlessly integrates with Finance KIT
- Automates connectivity to brokers through FIX protocol
Frankfurt, 20 March 2002 - Trema, the premier provider of financial strategic technology solutions and management consulting services, today announced the launch of Settlement HUB to provide a flexible interface for exchanging business messages with financial counterparts. Settlement HUB, an Enterprise Application Integration (EAI) tool, allows financial institutions to interface their financial applications with banks and settlement and payment systems, as well as with their own proprietary applications, for the exchange of confirmation, settlement messages and other business events.
Settlement HUB is used to send confirmation and instruction messages across a communications network through a fast, highly reliable and secure network. As a stand-alone solution, Settlement HUB delivers standard rules for payment, confirmations, cash and paper transfers, as well as custody transfers using SWIFT compliant messages.
The architecture of Settlement HUB has been carefully defined to ensure that it seamlessly integrates to the back office of Finance KIT, Trema's integrated asset and fund management solution, as well as a number of other different systems. As an EAI tool, it presents clear benefits to the user including a reduction in the cost of integrating new systems, the leverage of past investments and a reduction in operational risk. Settlement HUB supports straight-through processing, inherent in all of Trema's technology.
Settlement HUB automates connectivity for brokers by allowing the exchange of electronic orders between asset managers and brokers via their Order Management System (OMS). This connectivity is a result of the FIX (Financial Information eXchange) protocol, the standard for securities trading messaging between institutions such as brokers, exchanges and asset managers. The FIX interface integrated to Settlement HUB enables messages, such as market orders, to be electronically transmitted to the broker requesting the buying/selling of shares on behalf of the client. Purchase/sale information can then be passed back to the asset management system through Settlement HUB to complete the full transaction in Finance KIT.
Päivi Karesjoki, Head of Asset Management Segment, Trema comments, "The launch of Settlement HUB means that asset managers now have greater connectivity, and a solution that will enable them to achieve T+1. Through the FIX connectivity, Trema can now offer an extended solution for the asset management community. Trema is currently working on the release of its new Order Management System which will provide all the required advanced order management functionality and will be fully integrated with Finance KIT. "
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