Funds administration software provider GBST has signed Haitong International Securities Group onto their Syn~ platform to highlight Haitong's regional expansionary interests in Asia Pacific.
GBST's chief executive for Asia, Donal O'Brien, said that GBST's Syn~ platform represents an opportunity for Haitong International to "further enhance" their existing trading process and handle significant trading volumes in a more efficient way with a "low-latency matching and confirmations" capability.
According to O'Brien, the GBST Syn~ application is a rules-based, workflow-driven solution that allows user "easy integration" with existing operating systems and infrastructure.
The application is designed to provide "high automation" across a client's full range of middle and back-office operations, helping to "streamline" these operations with reduced risk and cost.
Andrew Sullivan, managing director of sales trading for Haitong International, said the adoption of Syn~ signalled the company's intention to expand and develop new business lines in Asia Pacific.
"We believe that GBST's middle-office will allow us to respond to market changes and increased customer demands in an efficient and timely manner," he said.
GBST capital market chief executive, Denis Orrock, said the agreement with Haitong International demonstrates GBST's commitment strengthening partnerships in Asia.
"GBST has a long history providing solutions to Global Investment Banks within the region," Orrock said.
"Working with Haitong International is representative of our strategy to leverage our international experience and engage within local and regional market participants."
Haitong International's implementation of Syn~ is expected to go live by the end of this year.
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