BOSTON & LONDON--March 8, 2005--Macgregor(R), a leading provider of execution process technology for the global financial community, today announced that Mondrian Investment Partners Limited has selected the Macgregor XIP Post-Trade (MPT) solution. MPT will help simplify Mondrian's post-trade processes and enable their operations staff to be more proactive and focus on exceptions.
MPT will be providing Mondrian with service bureau/application service provider (ASP) connectivity to Omgeo CTM(SM) and SWIFT and a single workstation for monitoring and managing all post-trade activity. In addition to matching, Mondrian will use MPT to communicate outbound Bank/Interested Party Trade Notification messages through SWIFT and receive inbound Cash Reconciliation, Corporate Action and Holdings Reconciliation messages. Mondrian will be integrating MPT into another commercially available third party OMS and their existing business continuity procedures.
Jason Andrews, Investment Administration Manager at Mondrian commented: "We needed a solution that could help us to continue to manage our increasing trading volumes. We considered a number of different options, but in the end we concluded that the Macgregor MPT solution was the best fit for our business. The ASP delivery model will enable us to outsource all of our existing post-trade hardware and software whilst retaining control over the full post-trade lifecycle. The internet based MPT Workstation will give us a consolidated view of all of our post-trade activity and enable us to move to a more proactive and exceptions-based processing model."
Stephen Alepa, EVP, Client Services at Macgregor commented: "While MPT integrates extremely well with our XIP Order Management Network, we designed it to work with any third party or proprietary OMS as well. We are excited because Mondrian is the first client to select MPT that is not already an order management client of ours. We are looking forward to getting them live and are confident that they will achieve a considerable ROI."