Media releases are provided as is by companies and have not been edited or checked for accuracy. Any queries should be directed to the company itself.
  • 18 June 2021 13:56

GBST wins 2021 WatersTechnology Asia Award for Best Back-Office Platform with Syn~ trade accounting and settlements solution

GBST has been selected as the winner of the 2021 WatersTechnology Asia Award in the Best Back-Office Platform category for Syn~ANG, the leading trade accounting and settlements engine with both regional and global processing capability. During the past 12 months, GBST has invested in its back-office platform with next-level cloud optimisation through integration with the AWS Aurora cloud-native database, and the addition of fixed income CSD connectivity. These investments have cemented Syn~ as a truly global, cloud-optimised, multi-asset trade automation platform.

In the first quarter of 2021, a GBST client went live on the platform. A C-level executive from the company explained: “As a start-up wholesale financial services company, we were in the enviable position to choose a market leading technology offering, free from the constraints of legacy infrastructure. Selecting GBST Syn~ was the obvious choice for our post-trade securities processing – it was the only solution in the market able to accommodate both equities and fixed income in a single SaaS (Software-as-a-Service) environment. The system automates the bulk of our trade processing, enabling us to resource purely for exceptions processing.”

Rob DeDominicis, CEO at GBST, commented: “We are delighted to have won the prestigious WatersTechnology Asia Award for Best Back-Office platform. The award recognises the substantial investments that we have made in the Syn~ platform, which is used by firms across Asia, Australia, Europe, the UK, and the US.”

GBST has invested heavily in three key areas for our Syn~ platform and clients: Firstly, by partnering with Amazon Web Services (AWS) to offer a SaaS model, facilitating rapid system implementation and on-demand capacity to dynamically accommodate trading volume spikes; secondly, by extending our fixed income capabilities to support equities and fixed income processing with Central Securities Depository (CSD) connectivity on a single outsourced technology platform; and thirdly, by developing a new ASX connectivity module in anticipation of the ASX’s replacement of CHESS that will seamlessly cut over to the new DLT-based Clearing and Settlement Platform (CSP) without any interruptions to client operations.

Denis Orrock, Head of Capital Markets at GBST, comments on the many recent successes and strengthened global footprint of the solution that he is responsible for in his global role: “Over the last 12 months, GBST has implemented Syn solutions for a leading global investment bank deploying the platform across 21 markets in four global regions, as well as working with a Tier-1 global investment bank to extend its existing Asian use of Syn to incorporate European markets securities processing.

“We are proud to be able to offer banks the option of consolidating their operations and IT infrastructure onto a single global platform for the highest levels of automation and infrastructure savings. Our most recent Syn~ client has proven this is now a very real option for firms looking to improve their operations using new technology.

“Our award win is testimony to the functionality and innovation that we’ve delivered, and we look forward to working with additional clients to implement this leading market platform for them in 2022.”

More information  Andrew Byrne, PR contact, GBST 61 2 9005 0922 andrew.byrne@gbst.com

Submit a media release