Bravura gets SMART for messaging platform 25 October 2011London Reporter: Anna Reitman
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Bravura Solutions has boosted its straight through processing (STP) capabilities for Babel, its financial messaging platform, with a securely managed and reliable technology (SMART) connection to DTCC.
The new private circuit offers Bravura’s clients quick and efficient access to DTCC’s subsidiary network, the National Securities Clearing Corporation (NSCC) and high speed message transfer services in the US. These include clearing, settlement, risk management and central counterparty services.
There is also a guarantee of completion for certain transactions for virtually all broker-to-broker trades involving equities, corporate and municipal debt, American depositary receipts, exchange-traded funds and unit investment trusts.
Tony Klim, Bravura’s CEO, said, “As facilitators of the DTCC connection we are able to offer services right across all clearing and messaging mechanisms so that our clients can expand their services and reach new markets.”
Already live, the facility offers administrators access to the US, the world’s largest mutual fund market, including North American fund ranges. In addition it can give clients access to markets in Canada, South America and Asia Pacific regions.
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