Serisys Strengthens Presence in Asia with New Operations in Singapore
New addition to the Serisys operations reiterates company's commitment to growth.
Singapore (PRWEB) July 4, 2008 -- Serisys Solutions, the provider of next generation applications to the capital markets, investment and banking industries in Asia, announced today that it has opened its South East Asia headquarters based in Singapore.
"Singapore is widely recognized as one of the most important financial centres in Asia. Leading financial institutions have established regional trading and operations hubs in Singapore which means it is a critical part of our growth strategy," said Tim Marsh, Chairman, Serisys Solutions.
Leading edge technologies
Spearheaded by the Singapore Stock Exchange (SGX) and encouraged by the Monetary Authority of Singapore (MAS), the local market has successfully opened up and positioned itself as one of the leading financial centres in Asia Pacific. As a consequence, global financial services institutions are wishing to capitalize further on Singapore's advanced infrastructure and regulatory framework to introduce their very best technologies and operating practices locally.
"For example, one of our solutions, Syn from Coexis, is being used in Singapore for delivery of high STP/STEP (Straight Through Exception Processing) rates using automated interfaces and integrated real-time workflow and monitoring to improve efficiency in securities middle office, clearing and settlement. This improves customer service, reduces cost and reduces the need for scarce skilled personnel, even as trading volumes in Asian markets grow relentlessly," explained Marsh.
Serisys is proud that we are enabling the financial services institutions to introduce world-class practices in Singapore through our applications to give them a competitive advantage," he added.
With Singapore's initiatives in building a robust and sophisticated financial market structure, Serisys views this as a strategic investment. The SGX has increased equity trading value alone to 300% year on year from 2006 to 2007. Much of this has been driven by foreign investments flowing into Singapore from India, China, Korea, Japan and the rest of Southeast Asia.
The SGX has mapped out other key initiatives to build an enduring marketplace in securities trading. According to SGX these initiatives include a wider product range and the introduction of other alternative investment exchanges with a broader spectrum of products to raise capital. As evidence of Singapore's attractive financial infrastructure, Marsh cited the opening in May of Singapore's third Alternative Trading System (ATS) or "dark pool", BlocSec, offering institutions an alternative liquidity source to SGX.
One of our Serisys' solutions, LBM from 29West, provides low latency messaging for trading split-second arbitrage opportunities on SGX.
"We believe our new office in Singapore will contribute to maintaining Singapore's clear leadership in financial services in South East Asia. It will enhance our service capabilities for our customers, investment banks, hedge funds, ATS, stock exchanges and brokerages, helping them to succeed in South East Asia's thriving financial markets," concluded Marsh.
The Serisys Solutions Singapore office is located at Shenton House, in the heart of the city's central business and financial district.
About Serisys ( www.serisys.com )
Serisys provides IT services and world class IT solutions to the capital markets and banking industries in the Asia Pacific region. Services include Application Service Provision (ASP), application implementation and application support. Serisys is headquartered in Hong Kong with offices in Singapore and Tokyo.
About Syn and Coexis ( www.syn.com )
Coexis, the creator of Syn ®, provides next generation software technology and applications which meet the dynamic business needs of the Global Capital Markets. Syn is built using state-of-the-art technology and engineered specifically to solve the market need to process exceptionally high volumes. Syn solutions allow an organisation to re-engineer and automate business processes through its unique rules-based and application lifecycle approach. Coexis solutions include Syn Middle Office, Syn Back Office, Syn Ledger, and Syn Customer.
About 29West ( www.29west.com )
29West is the leader in high-performance, low-latency messaging solutions for financial institutions. With its initial release in November 2004, 29West's Latency Busters® Messaging (LBM) set a new standard in performance for financial market messaging and has been deployed in more than 100 firms worldwide. With the introduction of Ultra Messaging® for the Enterprise (UME) at the end of 2006, 29West brought the unique Parallel Persistence design to guarantee messaging. Where other solutions send first to a store and then to the end receiver, 29West UME solutions send to the end receiver in parallel with delivery to the store, resulting in dramatic increases in throughput and drops in latency. With offices in Chicago, New York, London and Tokyo, 29West supports the financial markets worldwide.
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