- 29 February 2016 10:31
CLSA Ltd and clearing entity, SetClear renew long term contract with GBST
CLSA and its clearing entity, SetClear Pte Ltd, will replace a number of legacy systems with GBST Syn~, increasing efficiencies whilst further decreasing the total cost of ownership of the platform. With GSBT’s expanded market connectivity capabilities, CLSA is well placed to further integrate its operations into global securities infrastructure.
CLSA is one of Asia’s leading and longest running brokerage and investment groups. As part of its initial operational transformation, it implemented the GBST Syn~ capital markets platform in 2008 to consolidate its existing back and middle office operations from seven platforms to the single, integrated GBST Syn~ system currently in use.
GBST Syn~ is the primary processing system for CLSA Post-Trade Processing at its Global Operations Centre in Singapore as well as London, New York and nine regional offices. It is used for securities processing, from affirmation to settlement and asset servicing.
Today, CLSA will benefit from GBST Syn~ international best practice standards to enable the platform’s ability to scale and meet growth requirements in an era of high volume, high frequency trading, whilst reducing operational and market risk.
Denis Orrock, Chief Executive, GBST Capital Markets said: “We are extremely proud of both the significant operational and cost efficiencies that GBST Syn~ has delivered for CLSA and that CLSA acknowledges the strength of our relationship with this extension of our global contract. It will be an exciting evolution as our scalable technologies continue to enable innovation and growth for bottom line benefits CLSA’s global operations.”
About GBST - www.gbst.com GBST (ASX: GBT), provides global technology services to the financial services industry, addressing our clients’ constant needs for innovation, competitiveness and responsive IT that truly enables business. Listed on the Australian Securities Exchange, GBST is headquartered in Brisbane and has offices in Australia, United Kingdom, Hong Kong and Singapore.