NextSet Software allows financial institutions to offer web-based trading to their institutional and corporate clients. NextSet's PTX â Private Trading eXchange - is an online trading system that supports multiple asset classes (including Cash, Money Markets, and Fixed Income) on the same platform.
David Hornery, Managing Director Global Capital Markets, ANZ Investment Bank, said, "After an extensive search and Global Request For Proposal (RFP), we chose NextSetâs PTX system."
"Partnering with NextSet has enabled us to offer our clients an integrated electronic access to their transactions and dealings. It is leading edge technology and we see it as the next generation of business processing."
"We are very pleased to be working with the ANZ Bank, one of the top 100 banks in the world and one of the leading banks in Asia", said Simon Yencken, CEO of NextSet Software, Inc. "We look forward to a long and prosperous relationship."
Advantages of online trading with PTX include: increased business, reduced transaction costs, faster response to customer orders, 24x7 service, and Straight Through Processing.
The NextSet PTX system met a range of ANZâs needs including:
- leveraging the intellectual capital already developed in pricing, risk management & back office systems.
- compliance with current financial e-commerce standards initiatives and interoperability with other online trading venues.
- flexibility to adapt to emerging business models and future financial innovations in the global investment banking.
- near term return on investment.
NextSet is a private company headquartered in Palo Alto, California. NextSet maintains a state-of-the-art technology and development center in India and has a regional office in Melbourne, Australia.
ANZ has a minor equity interest in NextSet.