The Peresys BPN is a secure, high speed, mission critical private network which provides connectivity to South African buy- and sell side participants, as well as access to global counterparties via international network partners.
MetAM is one of the larger asset managers in South Africa. The company manages assets and funds across various asset classes and exchanges in excess of R50 billion. The implementation of order routing and the FIX enablement of the MetAM dealing desk were crucial milestones in the implementation of its broader front-office systems re-engineering initiative.
Says Virginia Witten, business solutions manager, MetAM, "The benefit to us was immediate and tangible. We were working with an experienced project team who complemented the MetAM project team implementing our new front office solution. The teams successfully managed a seamless integration of our new order management solution to their centralised FIX Hub as well as connectivity to our trading counterparties through the Peresys BPN."
Glenn Wilson, director at Peresys, says, "This project was complex and incorporated all the elements of an electronic order routing solution. This ranged from the connectivity testing of MetAM's new order management system to the Peresys BPN, through to the full management of, and testing with the local and international broking community. This typically includes liaising, scheduling, testing, trouble shooting, and the identification of unique connectivity, routing and monitoring needs.
This full service offering enables MetAM to effectively outsource their connectivity, pre-trade and trade messaging requirements to us. MetAM now has one port of call through which any issues and future projects associated with order routing can be channelled", added Wilson.
MetAM's Head of Dealing. Eugene Goosen has already added algorithmic trading to the solution that went live in August. Anton Berkovitz, Head of Business Strategy adds,"This installation opens many possibilities for future efficiencies in our business. We are ready to use it as soon as the market is ready in the fields of fixed interest and derivative order routing and allocations."