Logicscope is a leading provider of post-transaction messaging, market data integration and straight-through-processing software to financial trading institutions. Its solution, TradeSTP, is a straight-through-processing architecture which allows post deal data from FX, options and other instrument transactions to be delivered and integrated into counterparties' back office systems.
The new joint solution delivers deal data via TradeSTP into The Wall Street System Back Office. With TradeSTP becoming increasingly used as an integration platform for various e-commerce trading venues, clients of the solution will be able to streamline trade processing, reducing reconciliations and manual errors and allowing traders and management to focus on more value added responsibilities.
Natascha Ryan, Vendor Partner Program manager, Logicscope, commented, "Wall Street Systems has a significant market share in theÂ post tradeÂ business, while Logicscope is installed in many treasury dealing rooms around the world. TradeSTP provides a simple, scalable solution to the middle and back-office integration problems associated with treasury deal delivery and facilitates STP throughout an organization's financial infrastructure while creating STP between organizations. There is a synergy between these two well-established solutions, which provides optimal connectivity within the FX markets. As clients of Wall Street Systems grow their use of web trading as a channel to market, taking STP out of the corporate intranet and on to the internet, integration with solutions such as Logicscope's TradeSTP will deliver lower operational risk and eliminate duplicate trade capture and manual input."
Wall Street Systems joins Velocity International, Cameron Systems and Forex Manage in the Logicscope Vendor Partner Program, which was first announced in September last year. The program was set up to maximize connectivity to electronic FX trading venues within the FX and related markets. The partnership between Wall Street Systems and Logicscope provides the added benefit of pre-installation readiness.
Michael Thrower, director of marketing at Wall Street Systems, said, "We are committed to taking the STP model to its limits; to enable our clients to streamline their workflow and rationalize the number of stages in the STP cycle, removing redundant manual input."