Business | Markets
FTME's centre allows brokers to outsource trading processing
Financial Technologies Middle East (FTME), a technology firm focused on the financial services sector, yesterday announced the launch of the Financial Technologies Centre for Straight Through Processing Services (FT-CSS).
- Gulf News Report
- Published: 00:00 April 11, 2007
Dubai: Financial Technologies Middle East (FTME), a technology firm focused on the financial services sector, yesterday announced the launch of the Financial Technologies Centre for Straight Through Processing Services (FT-CSS).
The centre will act as a technology platform for brokers of stocks and commodities to outsource their complete trading and back-office transaction processing.
"Brokers who sign up for our complete end-to-end Straight Through Processing (STP)-enabled services suite will fully rid themselves of worries about the operational and technical side of their businesses. Not only will they be free to focus full attention on their business, but also cut costs by 50 to 60 per cent as they will not have to spend on technical infrastructure, staffing, software, hardware and maintenance," said Arshad Khan, Director, FTME.
Life cycle
Besides offering a secure platform for transaction processing and creating an interface between the various parties to a trade, the STP solution suite will integrate and automate the processes pertaining to the full trade life cycle including pre-trade, trade and post-trade functions.
Brokers of multiple exchanges stand to gain immensely from the services, as they will be able to centralise their operations on a single platform.
According to FTME, on FT-CSS, brokers will be able to offer their clients online trading via browser, applications and mobile-based front-ends for multiple exchanges. Their dealers and brokers will be able to trade on multiple exchanges using dealer terminals.
FT-CSS integrates strong risk management checks and procedures for ensuring the financial integrity of the brokers and their clients. Post trade operations and accounting functions can also be out-sourced by brokers to FT-CSS.
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