HelioGraph, the Straight Through Processing (STP) and Financial Messaging specialist, today announced that Mellon Global Investments (MGI) had implemented its STP solution.
This project delivers complete STP for MGI, as all back- office transactions now automatically pass through HelioGraph’s post-trade platform, Helio TradeFlow. This consists of the SWIFTReady Gold accredited Helio Message Broker, the Helio Message Workstation (allowing the user to monitor the status of any trade in the system as well as preparing facilities for repairing messages and manual input if necessary) and the Integrated Development Environment (IDE) tool. The latter allows MGI staff to undertake future configuration and development themselves. Therefore, they are free from the need to rely on a vendor to implement change.
MGI made a strategic decision in 2000 to overhaul its back-office operations with the implementation of a far- reaching STP initiative. Following a thorough review of the available solutions, the asset manager chose HelioGraph to supply an STP platform that would automate the entire post-trade process, including order generation, ETC and ETS.
“Having implemented the HelioGraph solution, we are now achieving STP rates of 90% and we expect to increase that still further, to around 95%, by the end of the project.
In choosing to implement an STP strategy our goals were quite clear,” says Andrew Downs, Director of Investment Operations, MGI “We wanted to reduce costs while improving efficiency and the level of service we offer to our clients. HelioGraph has certainly helped us to achieve this, and more. The fact that, through using HelioGraph’s IDE tool, MGI staff can adapt the system to any future requirements is a further huge bonus for us.”
By choosing to employ a single, integrated STP architecture, MGI is benefiting both from immediate cost savings and increased efficiency but also the comfort of knowing that it has implemented a strategy which allows it to fully benefit from future industry initiatives. The HelioGraph STP solution is based on a data field dictionary architecture and is fully ISO 15022 compliant. In due course, therefore, it will provide the ideal way to connect to new Virtual Matching Utilities (VMUs) such as those offered by the GSTPA and Omgeo.