Radica NIPS automates the entire process of new issues from original allocation by a corporate finance department, through client allocation by fund managers or brokers using a web portal, with approval, scale-back and trades set up in the clientâs settlement system. The product ensures compliance with CP107 and, by using automation and workflow systems, helps to mitigate risks caused by manual systems.
Jarlath McGee, Chief Executive Officer of Mondas commented:
"I am once again delighted that we have recognised a real need in the industry and indeed have already secured two clients for this new product which I believe has enormous potential. We are working closely with Brewin Dolphin and the other customer to ensure the product is developed in line with the requirements of participating and sponsoring brokers. These latest orders from major customers further strengthen the position of the Mondas Radica suite in this market."
Further information regarding the product and deliveries will be announced in due course.