TAS Group, a leading international provider of solutions for financial markets, and NewSOFT, a software development lab specializing in the financial sector and leader inItaly for OTC derivatives, entered a partnership to offer banks, financial intermediaries andtrust companies joint solutions for the management of derivatives and securities. Thepartnership covers the main European countries and addresses the impacts of EMIR,FINFRAG, T2S and Basel III regulatory compliancy.
The partnership is a result of previous successful collaborations that have seen the twocompanies jointly implement solutions targeted to customer banks throughout Italy, andwill now strengthen the relationship through the implementation of a major internationalproject in Switzerland to be started in the coming weeks.
Specifically, the cooperation between TAS Group and NewSOFT will focus on propertytrading and issuing back office, as well as on listed and OTC derivatives middle and backoffice plus regulatory reporting. Moreover, the joint effort aims to meet the newrequirements to be introduced by MiFID II / MiFIR regulation.
“Thanks to the agreement with NewSOFT,” said Mario Mendia, Director of Capital Marketsand Treasury Business Unit of TAS Group, “we are now able to offer European operatorsa complete and flexible solution to manage securities, derivatives and cash that fully meetsthe regulatory changes underway and the customer demand to optimize the handling ofvarious resources needed to operate.”
“The partnership with TAS Group will allow us to enhance and strengthen our commercial,project management and post-sales capabilities and to qualify ourselves as a leadingpartner on the national and European markets for the implementation of Capital Marketssolutions both in house and as-a-Service,” said Francesco Cosi, CEO of NewSOFT.