YouDevise says it has added two modules to its Securities LendingXpress (securities financing application. They are a position monitor and a cash forecasting and investment tool.
YouDevise says the position monitor extends Securities LendingXpress from its existing customer base in agency lending to provide facilities for other organisations operating in the securities finance sector, including fund managers, brokers and broker-dealers.
“The Position Monitor enables us to offer a comprehensive platform for all segments of the securities finance market,” says Colin Berthoud, Sales Director at YouDevise. “It gives traders a tool with which they can monitor their long and short positions across instruments, with clear display of rumoured and confirmed corporate actions. Position Monitor and the Securities LendingXpress platform is a premier solution for the many organisations that our research indicates currently rely on antiquated and inflexible systems.”
The cash forecasting and investment module, meanwhile, aims to provide securities finance participants with the ability to make the best return on cash collateral and allocate the return.
“Securities LendingXpress already contains some of the world’s most advanced and flexible facilities in areas such as managing collateral and corporate actions, trading baskets and dividend arbitrage,” says Richard Koppel, Managing Director of YouDevise. “We have found that many market participants want to integrate their cash collateral investment strategy with their securities finance application. Our new module provides them with a way to do just that.”
US-based TenFold Corporation developed Securities LendingXpress with a leading international agency-lending organisation using rules-based technology. “Using Enterprise TenFold, we were able to add the new components within weeks rather than months,” adds Koppel. “Our customers are able to install and adapt the system to their own way of doing business in-house, within similar time scales.”