Man Financial is the brokerage division of the Man Group PLC, which trades on the London Stock Exchange. The Man Group is a leading global provider of alternative investment products and solutions as well as one of the world's largest futures brokers, employing over 3,000 staff in 15 countries around the
world. Man Financial is one of the world's major futures and options brokers, providing a variety of financial services -- including FX trading, precious metals trading and margin trading -- to banks, CTAs, corporations and private clients.
Michael Snoek, General Manager for Europe, the Middle-East and Africa for Financial Software Systems, commented, "We are very pleased that Man Financial has selected MarginTrac to manage its margin trading business. Man Financial's selection of MarginTrac reaffirms MarginTrac's position as the industryleading
platform for collateralized trading. Our implementation of MarginTrac for Man Financial will include interfaces to tightly integrate MarginTrac to Man Financial's existing systems. Financial Software Systems and Man Financial plan to have this integration completed and MarginTrac in operation within a
few months. The ability to rapidly integrate and implement MarginTrac is an important advantage of the system, and is the result of Financial Software Systems' extensive experience from implementing MarginTrac around the world in a variety of environments."
MarginTrac is a complete Wealth Management and Client Relationship Management solution for FX and precious metals margin trading and collateral management. MarginTrac provides a complete front-office to back-office solution, featuring straight-through-processing of spot, forward and option trades from deal
capture -- including margin dealing over the internet -- to the generation of general ledger accounting entries in the back-office. MarginTrac will provide Man Financial with real-time P&L calculations and realtime calculation of margin positions and margin calls. MarginTrac provides real-time margin calculations based upon changes in clients' positions, changes in clients' collateral, and changes in market revaluation rates (for positions and for collateral). The calculation engines in MarginTrac have demonstrated in
production environments the ability to process over 30,000 transactions a day in a 24-hour trading environment across multiple financial centers.
MarginTrac will be installed in Man Financial's London office on a Windows Server 2003 platform utilizing Microsoft's SQL 2000 database server. Financial Software Systems also offers MarginTrac on a UNIX platform and the Sybase Database Server.