London, 7 October 2003 - HelioGraph, the Straight Through Processing (STP) and Financial Messaging specialist, announced today that Deutsche Asset Management (DeAM) has gone live with the latest phases of the HelioGraph TradeFlow STP platform to automate its Electronic Trade Delivery (ETD) processes across its London and Frankfurt headquarters.
Deutsche Asset Management (DeAM) is one of Deutsche Bank's core businesses and is the 2nd largest asset manager worldwide (source: Pensions & Investments Money Managers' Directory 2003). The company initially selected HelioGraph's Tradeflow solution after an extensive selection process with the aim of increasing automation as well as implementing ISO 15022 messaging. Heliograph has now been live in London for 2 years, where it is being used for Electronic Trade Settlement (ETS), and is also servicing the Frankfurt office where it is used for Electronic Trade Confirmation (ETC).
DeAM selected HelioGraph's technology in order to replace legacy systems with newer technology and increased functionality. This not only significantly increased internal and external STP, which enabled DeAM to benefit from a reduction in risk, but also allowed the company to receive the additional benefits ISO 15022 has to offer. The newer technology also made the support of the product much easier than it was for legacy systems.
The DeAM project was the driver for a number of business and IT 'firsts' for TradeFlow. In working with DeAM and drawing upon their extensive operational knowledge the project was successful for both parties. Some of the most noteworthy ones include:
- This was the first large-scale implementation of TradeFlow using Oracle as its native database platform. This was an important step in establishing TradeFlow as a truly scalable multi-platform solution
- DeAM fully implemented the Standing Settlement Instructions (SSI) module of TradeFlow. This was a key requirement in preparing DeAM for ISO15022 compliance.
- TradeFlow was rolled out for different business units and processes in London and Frankfurt, while at the same time the entire configuration is run and supported out of a single site (London).
Amery Thomas, CEO at HelioGraph commented: "The work we have done with Deutsche Asset Management is a perfect example of how our TradeFlow platform can be used to consolidate systems, centralise trading information and, consequently, reduce operational risk. Deutsche are using TradeFlow to automate their ETC and ETD processes across a broad variety of asset types and geographical locations.'
DeAM's immediate plans for HelioGraph technology involve pressing ahead with the consolidation of its systems and closer collaboration with Heliograph on the development of a European messaging hub.