GBST (ASX: GBT), a global provider of technology to the financial services industry through its GBST Composer, GBST Syn~ and GBST Shares platforms, today announced that its program to migrate the back and middle-office operations of Deutsche Bank from GBST Shares to GBST Syn~ has been completed. GBST Syn~ is now ‘live’ and processing the bank’s equity market trades in Australia.
As foreshadowed in our Half-Year Financial Statements (31 December 2016), this is GBST’s fourth live GBST Syn~ installation in Australia.
GBST Head of Asia Pacific, Denis Orrock, said: “Following Deutsche Bank’s activation, the GBST Syn~ platform now processes more than 25% of Australian equity market trades. This elevates GBST Syn~ to the leading post-trade processing platform in Australia, and further validates GBST’s long-term strategy of building a new generation platform to replace GBST Shares.
The benefits of the Syn~ platform include increased back and middle-office automation, greater control and visibility of post-trade processes, full integration with more than 30 platforms across the group including finance and risk management systems, and comprehensive reporting through GBST Syn~’s business intelligence reporting (BIR).
Completion of the project represents a significant milestone for GBST. The installation is the most comprehensive use of the GBST Syn~ platform by an institution in Australia.”
GBST CEO and Managing Director, Robert DeDominicis, said: “We were delighted to work in partnership with Deutsche Bank to create an optimised solution for post-trade processing. This meets the requirements for the Australian market and highlights our ability to work in partnership with a client. The success of this installation demonstrates the value that our significant infrastructure and domain expertise contributes, and the strength of our support network across Australia.”
GBST Syn~ is a new generation software platform that automates back and middle-office processing for banks and brokers. It provides multi-country clearing from a single platform, and multi-asset, multi-market straight-through exception-based processing (STEP).