CYMBA Technologies, a provider of high-performance Multi-Asset Class Investment Management solutions, has today announced that another leading Global Tier 1 Asset Manager has selected its flagship Athena IMS platform for its Buy Side Asset Management operation and the recently launched Silverstone Sell Side platform for its Brokerage business.
After an extensive beauty parade of leading vendors, CYMBA Technologies was selected for this Greenfield and Transformation project, primarily due to its ability to not only provide both buy and sell side functions but also its ability to implement the “Chinese Walls” required between the two subsidiaries from a regulatory perspective. Quoting on behalf of the Parent Group, its COO commented; “Our growing list of global Buy Side institutional clients is seeking to both increase flow to our brokerage business whilst also achieving a more up-to-date straight through processing infrastructure, especially around execution reporting. After carrying out a thorough review of the vendor market, we chose to on-board the integrated CYMBA platform for many reasons; its support for both our Buy and Sell side operations, its open architecture built on the latest technology stack as well as its multi-asset class support”.
Commenting on behalf of CYMBA Technologies, Karim Ali, Managing Partner and Co-Founder, said; “Firstly, we are delighted that this Global player has selected our integrated platform for its Asset Management and Brokerage business. The selection process was thorough and it’s a testament to our technology and people that we were able to come through it positively. This transformation project will be tackled in phases providing our client with the quick wins it seeks whilst giving CYMBA Technologies another live client”
Phase 1 of the project has already commenced and will enable the Sell Side Brokerage business to trade electronically in a bi-directional manner with the various local exchanges in the region. The Asset Management division (Buy Side) will also put its core funds live during this period. Phase 2 will centre on connecting the Brokers Global Buy Side clients via FIX for order receipt and onward execution on these local exchanges. The broker will then be able to send execution reports back to the originating Buy side for full transparency and audit.