At the SIA Technology Conference in New York today, HelioGraph, the STP and financial messaging specialist, announced that Loomis Sayles & Co, the investment management firm, has chosen to implement its TradeFlow STP platform.
Although the original impetus for the project was the upcoming change-over to the ISO15022 message standard and Loomis Sayles’ requirement to future-proof its SWIFT messaging infrastructure, the investment manager also expects the HelioGraph technology to enhance its STP practices.
Loomis Sayles has licensed HelioGraph’s Message Broker EAI solution along with a number of Message Workstations (for exception processing, trade monitoring and SSI entry) and the Helio IDE which allows the user complete control over the configuration of the system.
“After a very careful product review” says Steve Chittenden, Vice President Investment Operations, Loomis Sayles “we concluded that the HelioGraph solution offered a number of significant advantages. A feature we particularly liked was being able to use the Helio IDE development tool to undertake our own configuration work in the future.”
The HelioGraph solution will deliver STP benefits by automating the creation of MT540 ISO 15022 settlement messages and MT304 FX messages from trade details generated by Loomis’ portfolio accounting software, DST International’s Global Portfolio System. TradeFlow will also automatically enhance messages with standing settlement instructions (SSIs), allow users to monitor the status of all trades and offer a dynamic templating environment in which to process any exceptions.
“We’re really pleased to be working with Loomis Sayles on this project” commented Richard Vreeland, COO, HelioGraph Inc. “By implementing our data field dictionary architecture, Loomis will not only see immediate STP gains but they have also laid the foundations for a broader STP infrastructure in the future, for example for connectivity to VMUs”
The implementation will take about 45 days and the solution is currently undergoing testing. Like all HelioGraph clients, Loomis Sayles will now also benefit from a full data field dictionary implementation, settlement chain compatibility and Securities Market Practice compliance.