Trade Settlement Inc. (TSI) strengthens its automated settlement services opening the branches in London and appointing Ronnie Glenn as a new Executive Director of sales for its expanding European business.
Effective immediately, TSI is serving European clients out of London, providing hands-on support with all aspects of its settlement system. The remit of Ronnie Glenn will be concentrated on building existing client relationships as well as expanding the firm’s business overall.
To meet the growing need of the European market TSI reinforced its platform, which brings dealers and their customers a scalable and secure service for the post-trade, syndicated loan environment. TSI’s primary and secondary online loan closing systems substitute the manual elements of the loan closing process with automated functionality. Using the system, documents and information can be shared electronically in a secure and efficient web-based environment.
The platform provides dynamic, bi-directional live interfaces with back-office accounting systems, eliminating double entry and maximizing the benefits of STP. TSI handles all routing for approvals and signatures as well as stores documents and aids trade parties in their “KnowYour-Client” requirements.
Another zest of TSI’s European platform is the ability to generate LMA trade confirmations, transfer certificates and pricing letters as well as a break-funding calculator, European date formatting and multiple bank accounts per currency.
New executive, Ronnie Glenn, joins TSI from Barclay’s Capital where she served as Associate Director in the European Leveraged Finance Team. She also held various positions related to the loan business at Goldman Sachs International and Bank of Tokyo Mitsubishi.
There is increased need by market participants to make further inroads in achieving better efficiencies in post-trade processing of syndicated loans, and our move to London and the addition of Ronnie Glenn mark the next stages in achieving these goals, says Pat Loret de Mola, president, TSI. The launch of the European platform earlier this fall was a very exciting step in our quest to be the premier provider of post-trade processing for the global primary and secondary syndicated loan market.
L.D.