Gerald Thurston, President of Financial Software Systems, commented, "For many years Spectrum has been focused on classic Treasury products, providing straight-through-processing for foreign exchange and interest rate transactions. Until the last few years equity trading was generally considered a capital markets activity, and the province of specialty software applications. In the last few years we have seen more banks move their equity trading into Treasury, using equities as short-term investment vehicles and as an investment choice for the banks' customers. Adding support for equities is a natural extension of the Spectrum Treasury system and will help Financial Software Systems better meet the needs of emerging Treasury operations."
Vincent Small, Executive Vice President and Chief Technology Officer of Financial Software Systems, remarked, "For a number of years Financial Software Systems has supported the use of equities as collateral in our MarginTrac collateralized trading system. Our experience with equities in MarginTrac made it very easy to extend support for equities to Spectrum. We see the market moving increasingly to collateralized trading to solve the credit problems inherent in customer trading, and we expect to completely support collateralized trading of equities in MarginTrac in the near future."
Spectrum is a comprehensive Treasury system, providing straight through processing for a wide range of financial instruments, including foreign exchange, money markets, FX and interest rate derivatives, bonds, structured financial products, and now equities. Spectrum provides complete front-office, middle-office and back-office functionality on a single SQL database.
MarginTrac is a complete Client Relationship Management solution for FX margin trading and collateral management. MarginTrac handles FX spot, forward, swap, vanilla option and exotic option trades. MarginTrac provides P&L calculations, management of client collateral, calculation of margin positions and preparation of multilingual confirmations, client statements and margin