- SOCX team strengthened by appointment of Dave Clark -
New York and London, April 29, 2003 - Wall Street Systems, Inc., a leading
provider of global treasury and capital markets solutions and services, will
discuss current trends in outsourcing with the senior trading and IT
professionals gathered at Dealing with Technology (DWT) 2003 London. DWT -
the global trading and risk management forum - will take place at The
Brewery, Chiswell Street on Wednesday 30 April. Wall Street Systems will
exhibit at stand # 1 and both Wall Street Systems & SOCX personnel will be
available throughout the day to talk about the company's latest plans for
SOCX (Settlement & Operations Clearing eXchange), its wholly-owned
Based on The Wall Street SystemÂ® treasury engine, SOCX now offers a range of
solutions - from operational improvements through to a fully outsourced
settlement and clearing service - so that financial institutions can choose
a level of outsourcing to suit their exact business requirements:
- Business Process Outsourcing (BPO) - SOCX provides a trade settlement service supporting the full operational lifecycle of a trade, from static data maintenance through to reconciliation. The service can be tailored to individual requirements, ranging from a single function to full operational processing.
- Application Service Provision (ASP) / IT Hosting - SOCX can provide
The Wall Street SystemÂ® treasury engine on an ASP basis, giving access to
system upgrades and full 24x7 support. Alternatively, SOCX can facilitate
the hosting of a company's treasury system and manage its relationship with
the hosting provider.
- Operational Improvement Services - SOCX is able to provide operational expertise on a consultancy basis to advise on workflow and exception management, outsourcing and third-party management. Services include business process reviews, deployment of workflow technology to increase efficiency, STP benchmarking and cost per trade analysis.
- Application Management Services - SOCX offers access to Wall Street Systems application management expertise and resource, providing systems operations, application monitoring and management with 24x7 support. SOCX is equipped to support a variety of financial products, including foreign exchange, fixed income and repo, money markets and derivatives.
At DWT Mike Thrower, director of marketing, Wall Street Systems, will give a
presentation on 'Outsourcing your business - is it a real option for
treasury and capital markets?' The presentation, which will take place at
11:30 in the Upper Sugar Room, will provide a summary of outsourcing to
date, explore the benefits, barriers and opportunities, and look at the
future direction for this area.
As part of its ongoing commitment to the outsourcing market, Wall Street
Systems has appointed Dave Clark as business development manager for the SOCX solutions. In addition to managing the dedicated operations and IT professionals comprising the SOCX team, Dave will be responsible for all
aspects of the development of the company's back office operational
solutions business. Dave comes to Wall Street Systems with a successful
track record of sales and marketing in the back office technology market.
Previously, Dave worked at Frustum (now part of Misys) for seven years,
during which time he was responsible for establishing and growing the OPICS
client base in EMEA. Dave has also held senior positions at IBIS and BIS
Speaking about the company's focus on outsourcing, Mike Thrower, director of
marketing, Wall Street Systems, says: "Outsourcing remains an important and
strategic topic for all financial institutions experiencing change in the
current economic climate. Following the SOCX acquisition, Wall Street
Systems looks forward to renewed focus on all operational solutions,
including business process outsourcing. SOCX offers a real alternative to
the traditional trade processing model, allowing organizations to focus on
their core business structure while significantly reducing processing costs.
It also now offers financial organizations the opportunity to choose a level
of service to suit their specific business needs. We are pleased to welcome
Dave on board to help shape the future of SOCX."
In addition to sharing its latest outsourcing plans, at DWT Wall Street Systems will launch its Internet Extensions Hub, enabling banks to offer a wide range of services to their corporate customers via the Internet. An interactive corporate presentation will also be running on the Wall Street Systems stand throughout the day, demonstrating the full depth and breadth of The Wall Street SystemÂ® treasury engine.