StreetDirector delivers enterprise-wide securities transaction processing on a single integrated platform
LONDON, September 8, 2003 - Financial Technologies International (FTI), a
leading provider of financial enterprise processing solutions, today
announced the launch of StreetDirector, the latest addition to its suite of
fully integrated enterprise applications for the finance and securities
industries. StreetDirector is a global transaction lifecycle processing
engine that provides a functionally rich environment for managing and
controlling transaction workflows. A powerful tool that further empowers the
middle and back office.
StreetDirector is live at two customer sites and is available to both new
and existing customers.
Michael Meriton, president and CEO, FTI, says: "With StreetDirector, our
customers gain an integrated, seamless, rules-based transaction manager for
minimizing operational risk, increasing the speed of transaction throughput
and improving overall STP rates. As a result, customers are equipped with a
complete, end-to-end solution for managing and controlling the lifecycle of
StreetDirector manages the automation of executed cash, securities, Foreign
Exchange or other financial transactions from initiation in the front office
through to settlement and custody. The open architecture streamlines the
transaction lifecycle, including order routing, risk management and settlement. This allows users to exchange trade information both with internal systems and external parties such as custodians and depositories. The combination of flexible rules- driven architecture with an industry leading data model supports customers during the critical functions of trade matching, error evaluation, repair, correction, cash/stock sufficiency checks and transaction monitoring from order entry to settlement. Examples of some of the transaction events supported include: notification, confirmation, affirmation and settlement.
"StreetDirector provides a structured approach to managing transactions processing from both the customer and the enterprise perspectives," said Ramsay Stirling, product manager for StreetDirector.
"As a company, we are committed to ensuring that we fully support financial
enterprise processing. This is evident with the current expansion and diversification of our StreetEnterprise offering." Stirling continues:
"This offering demonstrates FTI's dedication to helping firms increase the
efficiencies and productivity of their securities processing operation,
enabling them to deliver competitive and cost-effective services."
By uniquely combining flexible rules, market practices, and enterprise-specific processing, StreetDirector enables banks to respond more quickly to market changes. Users have the flexibility to establish rules and parameters that conform to their internal business practices, based on transaction type, issue type, location, and counterparty. These parameters include:
- Establishing standing settlement instructions;
- Selecting the mode of payment for a transaction given defined step and status dependencies;
- Defining funds availability agreements;
- Processing settlement of cash and securities through the same or differing custodians;
- Defining settlement amount tolerances.
StreetDirector was originally developed as a transaction management tool for
clients using StreetBooks. Like other components of StreetEnterprise, it is
fully integrated into FTI's single operating platform, but can be delivered
on a modular basis to deliver highly available secure financial transaction