Barnard Jacobs Mellet (UK) Limited (BJM) signs with SAM.

BJM has grown to be recognised as one of the leading independent securities house in South Africa and is listed on the Johannesburg Stock Exchange. BJM UK was established 3 years ago and has steadily grown its business, over the period comprising institutional stockbroking and cross-market trading.

InterSet will be provided as a service, hosted across the internet. It will enable a high level of Straight Through Processing and management control. It will provide regulatory and management reporting to BJM and will form a sound platform for expansion. In the front office SAM will provide links to the BJM trading systems. In the back office SAM will provide links to CREST in the UK, and using ISO15022 format messages, Kasbank for Europe and Standard Bank for South Africa. Paul Barnard, CEO of BJM said: "We selected SAM because their InterSet system uniquely offers a highly automated settlement and accounting system at an affordable cost. Its efficient design and modern technical platform give us great confidence that InterSet will support our growing business for many years to come.

Jeremy Sibthorp, Sales Director of SAM commented: "We are delighted to be working with BJM whose institutional stockbroking and cross-market business is particularly well suited to InterSet. This is our second new client in 6 months. This proves SAM has a very strong offering in the back office settlement space, we are bucking the trend in what has been a very quiet period for back office system providers".

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