Mid-tier traders frustrated with managing trades manually could benefit from a new computer technology similar to those long-used by larger marketplaces.
The iRevolution-manufactured software, called iSTP, would eliminate start-up costs and risks. It is compatible with OMGEO, SWIFT, and the Microsoft Server System.
“It’s basically taking all the pain away,” said Amy Mathias, marketing executive at The Hamsard Group, the parent company of iRevolution.
Mathias said installation costs for the system total about £50,000, depending on how many years a company plans to spread the payment, the maximum being five years. The costs per transaction would be 3 £, but can be bought as a bundled-plan, which would reduce the cost per transaction, she said.
“We are convinced that we have lowered the cost and risk barriers preventing mid-tier organizations from realizing the benefits of Straight-through-Processing,” said Eamus Halpin, CEO at iRevolution.
iRevolution showcased the software at the Sibos Conference and Exhibition at the beginning of September.