Financial Software Systems (“FSS”), the leading provider of Foreign Exchange solutions to the broker-dealer market in London has been selected by Swiss Finance Corporation (“SFC”), an independent brokerage firm. Founded in 1988, SFC acts as a market maker in the interbank foreign exchange and precious metals market. SFC will utilize Spectrum to support its middle-office and back-office for Foreign Exchange dealings in Spot, Forward, Non-Deliverable Forward, Vanilla and Exotic Options. SFC plans to introduce support for additional asset classes in Spectrum so that their clients will receive the margin benefits of trading across multiple asset classes.
Spectrum will replace SFC’s legacy in-house back-office system, while also providing new services to SFC’s clients through the deployment of Spectrum’s powerful web reporting capabilities. SFC will benefit from Spectrum’s ability to provide a consolidated view of all margin trading clients irrespective of the asset class. Margin trading statistics for all clients are summarized and are updated and displayed in real-time. The real-time monitoring of clients’ positions and the unique client views available in Spectrum will ensure that SFC provides all the necessary information for enhanced services to their clients.
By utilizing Spectrum’s client reporting capabilities, SFC’s clients will be able to view all of their FX trade positions and margin capacity in real time over the internet via Spectrum’s Client Portal as well as through physical statements. The web reporting and cross-asset capabilities of Spectrum are two key reasons why SFC chose to partner with Financial Software Systems.
Sanjay Amin, Director at SFC commented, "We are very pleased to have selected Spectrum. The reputation of Spectrum within the broker-dealer market here in London, their knowledge of this business and their understanding of how to provide superior levels of service for the institution’s clients clearly differentiated FSS from other vendors in the market. We look forward to a long and productive partnership with Financial Software Systems."
Paul Thomas, EMEA Director for Financial Software Systems noted, "We are excited to partner with Swiss Finance Corporation. SFC will benefit from our ten-plus years of providing solutions to the broker-dealer market. Our experience in providing sophisticated margining, our ability to support a wide variety of asset classes and our best-in-class client reporting will help SFC expand its business in the coming years.”
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