GBST, which provides securities transaction and fund administration software, has signed its first U.S. direct client for its GBST SYN~ platform.
Raymond James Equity Capital Markets will replace existing legacy systems and manual processes with the platform, introducing rules-driven pre-settlement processing including integrated, real-time institutional commission management facilities. The platform also links seamlessly with Omgeo Oasys Direct and Omgeo ALERT.
The firm also has appointed Liz Bevan as CEO for North America, based out of its New York office.
"SYN~ has now been deployed across the key financial markets of Australia, the wider Asia-Pacific region, Europe and now directly into the U.S. for the first time," Stephen Lake, group CEO and managing director of GBST. "This is proof that our approach to develop flexible global technology solutions that solve industry challenges is being acknowledged by our industry peers."
Susan Horn, SVP of Equity Capital Markets Finance and Operations at Raymond James, says: "The unique approach of GBST SYN~ is allowing us to build a new pre-settlement platform that not only automates the trade cycle, but caters for business and regulatory changes that we can easily manage ourselves in the future."