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Coexis announces Syn~Broker to reduce brokerage risk and aid compliance, especially in emerging markets

London and New York-based Coexis Limited, today launched Syn~Broker, a state of the art solution for ASPs (Application Service Providers) to give entire markets a one-stop brokerage application covering everything from customer on-line trading, order management, settlement, right through to accounting. As a new addition to the Syn~ range of next generation software applications for capital markets, Syn~Broker is designed to help reduce brokerage risk by easing compliance and improving client servicing. Syn~Broker is also very suitable for large multi-branch retail brokers requiring rich functionality in-house.

“Syn~Broker can significantly alter the level of automation and sophistication of financial service provision in an entire region, while dramatically controlling costs for individual institutions,” says Donal O’Brien, business development director at Coexis.

Coexis also announced that preparations are at an advanced stage by Serisys Solutions Limited, Coexis’ newly announced partner servicing Asia Pac (see today’s’ companion release, to deliver Syn~Broker on an ASP basis as a regional facility in China from a hosted facility at Serisys’ regional development centre located five miles from the Chinese border in the Hong Kong Science and Technology Park.

Separately, Coexis also announced that Syn~Broker is being readied as a countrywide solution in Egypt.

Sunil Shah, chief executive officer of Coexis said: “Syn~Broker is an ideal solution especially for emerging markets as it enables brokers to conform to evolving regulatory compliance requirements, demonstrate execution certainty, high security, deliver great customer service and enhance overall efficiency, without the overhead and time delay of setting up the in-house IT infrastructure. We have, for example already modified Syn~Broker with a Chinese User Interface and are including market connectivity to CCASS in Hong Kong and the Shanghai and Shenzhen exchanges. This will enable brokers to have a fully automated, exception based workflow driven back office solution for China.”

Syn~ Broker is another example of the “out of the box” industry-wide business processing packs which Coexis has developed with Syn~Developer following success in settlements, FIX routing, funds supermarkets and reference data.

Key benefits common to all Syn~ applications include:
• Very high STP rates using automated interfaces and integrated real-time workflow and monitoring
• Flexible rules-driven lifecycles allowing complex operational structures to be modelled
• Easy extension to support dynamic business for changing markets, products or client services
• Support for true 24x7 global operations using scalable processing and contemporaneous end-of-day by geographical or business regions
• Use of open standards such as FIX, ISO15022, XML and JMS for communication with internal and external systems