Philadelphia, June 19 - FNX Solutions (FNX), a leading provider of next generation technology solutions for treasury and capital markets, announced today that Banc Investment Group, the broker-dealer unit of Pacific Coast Bankers' Bancshares (PCBB), has selected its web-based Sierra ASP to manage the bank’s Interest Rate Derivatives margin trading operations.
Sierra ASP is FNX’s real-time, cross-asset, end-to-end trading, workflow management and accounting solution, designed to manage the most sophisticated trading operations. Sierra ASP will be used to support PCBB collateralized margin trading and processing of interest rate derivatives.
The broad functionality of Sierra ASP will enable Banc Investment Group to improve automation and transparency, increase processing speed and efficiency, and extend its expanding Interest Rate Derivatives business into new product offerings.
Ed Kofman from Banc Investment Group said: “Sierra ASP met all the requirements we were looking for and provided the trading tools, secured access and high availability we needed to support our STP operations – and gets us up and running quickly.”
Ray Krastins, Director of North American Sales added, “Sierra ASP’s web-based delivery platform was particularly appealing to Pacific Coast Banker’s Bank because it offers convenient accessibility, security, disaster recovery, maintenance, upgrades and support at an affordable flat monthly rate. Speed to market was also a major challenge and the ASP delivery selected by PCBB allows for an implementation time frame of around 90 days.”
FNX SOLUTIONS provides global financial institutions with complete technology SOLUTIONS for the management and processing of capital market transactions. Established in 1992, the goal has never changed, to give clients a competitive edge utilizing industry-leading technology to maximize productivity and to reduce operational risk.
With a commitment to the highest level of customer satisfaction, FNX builds flexibility and adaptability into its growing mix of software and customized service offerings to meet the ever-changing needs of the financial marketplace. Through its suite of software SOLUTIONS, FNX supports order management, trading, risk management, margin and collateral trading, settlement and accounting for FX Cash, FX Options, Money Markets, Fixed Income, Interest Rate Derivatives, Commodities, and Exchange Traded products. Furthermore, SierraLinkä, FNX’s standard solution for interfacing with third party systems, provides seamless integration and electronic transfer of information with real-time connectivity, flexibility and high performance.