RNM Systems, has partnered with ATEO of France to offer its TEOT Straight Through Processing (STP) software in the United Kingdom. TEO, which is gaining wide acceptance with brokerage firms in France, is capable of operating independently from existing installed dealing software and only requires simple gateways to connect to multiple exchanges. It will be ideal for derivatives and stockbroking firms which require a more cost-effective STP capability and higher levels of productivity.
Traditionally the STP capability is incorporated into existing dealing and trading software. However separate functionality usually needs installing for each exchange with which the brokerage house deals, and this can prove costly and inflexible. TEO, with its capability to operate independently of installed software and simple interface with multiple exchanges, should prove attractive to medium and large-sized firms.
TEO, which offers modules for derivatives, equities and the OTC markets, enables all trading activity to be concentrated in a single open database which can be integrated into any dealing system . It also offers significant cost-reduction benefits as trades can be allocated and processed immediately upon execution rather than being passed manually to Trade Processing. This results in significant efficiency gains within the Back and Middle Offices and Operations Department.
TEO’s contribution to improved speed and efficiency of Trade Registration and Allocation will also benefit brokerage clients, especially those using Real Time Allocation (RTA). Furthermore, overall execution services will improve due to the functionality of the STP system in the areas of checkout, re-caps and trade file receipts. Moreover, the competitive edge which TEO offers the STP process can be leveraged as a useful brokerage marketing tool.