Many of the CREST users migrating to CCI will have to consider the thorny implications of back-office systems designed to send DEX messages to Euroclear. The potential risks and costs of back-office changes present a formidable hurdle. Further complications arise when organisations start to consider their strategy for financial messaging connections. Balancing the need for cost saving with the absolute requirement for resilience can make for a protracted internal debate.
To meet this need, Synergy Financial Systems is announcing new bureau services for CREST users. By combining resilient bureau solutions with Synergyâs ClaritySuiteâ¢, the company is now ideally placed to offer organisations a smooth migration to CCI. Message transformation solutions make it possible for CREST users to continue sending DEX messages via SWIFT to Euroclear without back office modifications. It is possible to implement these, either as part of the hosted bureau based service or as standalone applications in an organisationâs own environment.
Commenting on the new services, Peter Sandhu, Technical Director, said: âWith many institutions totally reliant on our bureau for time and business critical messaging, we take resilience very seriously. That is why we operate two data centres, both continually active and located geographically remote from one another. Our network is engineered to ensure that there are no single points of failure and is entrusted to BT Radianz as a network provider. Resilience extends to the human side of the business too with operations conducted from multiple monitoring & control locations.â
Services Director, Eddie Prendergast commented: âWe are keen to offer new and existing customers the opportunity of the investment protection provided by re-using their current SWIFT infrastructure as a single window to CCI.â He added: âFinancial Institutions want to stay in control of their systems architecture whilst managing cost and risk. Our unique combination of bureau services, our own expertise and our renowned message transformation and management products helps them keep that control.â