Gary Wright, C.E.O., B.I.S.S. Research and creator of the B.I.S.S. business benchmarking concept said âVermeg has been entering the corporate actions benchmarking for 6 years and we have recorded the huge development of MegacorÂ® as it continues to excel as one of the most comprehensive corporate actions solutions in the market.
This years benchmarking focussed on the services offered by the vendors and value added functionality within the corporate actions systems and in this regard Vermegâs testing, functionality and development environment were simply outstanding.
In addition the 2008 benchmarking assessed MegacorÂ® in terms of offering assistance in MiFID compliance and the capability of enhanced asset servicing. The panel and the analyst were equally impressed that MegacorÂ® can bring significant benefits to its users in complying with new rules as a result of MiFID as well as improved asset servicing for investing clients.
We are delighted that MegacorÂ® has once again achieved the B.I.S.S. Accreditation in all three market sectors of Asset Managers, Broker/Dealer and Custodian. â
Badreddine Ouali, Vermegâs CEO, added: âWe are very pleased once again to have scored so highly in all the benchmark criteria. This year, the analysts were able to visit Vermegâs R&D centre in Tunis, and their report therefore provided the panel with a more in-depth appreciation of Vermegâs extensive testing, functionality and development environment, spanning the whole range of securities servicing products, including Megacor.
As an early participant in the Benchmarking exercise, going back to 2003, we have seen how, each year, the Benchmarking has achieved ever-greater market recognition, providing financial institutions seeking to automate corporate actions processing with an objective assessment of systems available and therefore speeding up and making more efficient the selection process.â