TIBCO Software Inc today announced TIBCOTMT Real-Time Trade Management for Financial Services, an end-to-end integration and Business Process Management (BPM) solution for the financial services industry. The new solution, designed to support the Global Straight Through Processing Association (GSTPA) and T+1 (trade date plus one day) initiatives, manages complex, mission-critical, high transaction volume business processes.
TIBCO Real-Time Trade Management enables management of domestic and cross border trading and takes straight through processing (STP) integration to the next level, automating and streamlining trades to improve trade lifecycle management operations and increase efficiencies, while providing faster time-to-market, lower operational costs, and reduced risk. TIBCO Real-Time Trade Management is designed for companies belonging to the GSTPA, an industry association open to all investment managers, broker/dealers and global custodians involved in the processing of cross-border trades.
Financial services institutions face challenges in mitigating the risk of market exposure and default caused by rapidly growing trade volumes. The most pressing challenge for the financial services industry is the Securities and Exchange Commission (SEC) mandated compliance of T+1, a move to shorten trade settlement periods to trade plus one day, by June 2005. To achieve T+1, financial institutions must adopt an STP solution, a key prerequisite to operating in compressed cycle times. According to surveys taken by industry analysts and the Securities Industry Association (SIA), STP is the top technology priority for U.S. broker/dealers for the next two to three years.
As the industry moves toward settlements of T+1, TIBCO Real-Time Trade Management provides a solution that easily and cost effectively meets the technological demands necessary to achieve T+1 status by changing the dynamics of the information flows associated with cross-border transactions. Based on a combination of industry-leading technology and a strong history in the financial services industry, TIBCO is uniquely positioned to deliver a comprehensive end-to-end solution for the GSTPA and its members.
“The TIBCO Real-Time Trade Management solution provides a level of functionality that helps brokers/dealers increase efficiencies, maximize capital and reduce operating expenses as they move to T+1 compliance, and beyond,” said Jrgen Marziniak, chief executive officer of the Global Straight Through Processing Association. “TIBCO has a long history and strong reputation of quality service within the financial services industry. They understand the business, the demands and the objectives the industry demands.”