SmartHub to cut trading costs and risk
A new cloud-based solution will reduce operational risks associated with financial trades, while creating efficiency savings, financial services IT provider, IRESS claims.
IRESS head of trading solutions, Ben Jefferys, said the SmartHub solution would facilitate financial transactions delivering cost and performance benefits for traders, stockbrokers, fund managers, or middle and back office staff.
The service will give Australian brokers the ability to connect with international counterparties and enable "seamless trading across global markets", the company claims.
"In the global financial market where companies are coming under increasing cost pressures while suffering from an ever increasingly competitive market, enabling trade in a range of regions at a cost effective level is crucial to opening the door to client and revenue growth," he said.
"IRESS has been connecting market participants for over 10 years using a variety of messaging protocols, and SmartHub is the evolution of both technology and service.
"By taking care of every aspect of the technology related to sending or receiving transactions with their counterparties, this enhanced offering will reduce operational risk for firms, bring important efficiency savings, and underpin the business growth of our clients."
AUTHOR
Nicholas O'Donoghue
Recommended for you
With active ETFs becoming the latest choice as fund managers target the retail audience, their high fees may be a detractor as research finds investors are shunning those priced any higher than 50 bps.
The possibility of a dissenting vote from shareholder L1 Capital has led Platinum Asset Management to scrap its conversion plan for the $450 million Platinum Capital LIC into an ETF.
Family office Lederer Group has made an off-market takeover bid for ASX-listed Elanor Commercial Property Fund, with chair Paul Lederer taking exception at the firm’s lack of accountability, oversight and transparency.
Janus Henderson is actively seeking to partner with private wealth firms in Australia as it looks to expand its number of strategic partnerships, as well as focus on retirement income product development.
