Boit says, "A prime responsibility will be to represent all vendors' interests on the executive committee. I urge vendor members to contact me regarding anything they feel needs to be brought to the executive's attention. I'm particularly interested to hear how we can encourage greater collaboration between vendors and operations practitioners". Boit's involvement with ISITC has spanned 13 years since the early days of its activities in Europe. He says, "I'm looking forward to encouraging greater online collaboration for everyone involved in securities operations throughout Europe. Our new web site will be the primary focus of this activity." However, he cautions "We can't just have a technological approach, we have to create a sense of community and move our focus from being predominantly London-based and extend our reach to the rest of Europe."
ISITC is a non-profit, volunteer organisation for operations professionals in the securities industry. It identifies and discusses topical issues leading to representation of the industry's interests with regulators, standards groups and other industry bodies, with a view to promoting operational efficiency through Straight Through Processing (STP). Although ISITC does not provide solutions itself, it embraces the vendor community that provides those solutions. It has always maintained a very strong sense of vendor neutrality but recognises the breadth of experience that vendors can offer when providing solutions to the industry.
COR-FS has always recognised the value of involvement with groups such as ISITC. Lee Runciman, COR-FS's Head of Business Development for their trade management solution, Salerio, says "Our involvement with ISITC both here and in North America has helped us to identify how we can provide the most effective products for our customers. As a direct result of our close ties with ISITC, we have already embedded industry best practices into our trade management product Salerio.