Barclays Global Investors First To Go Live On New Data Platform
SmartStream Technologies, the Transaction Lifecycle Management specialist, has announced that investment manager Barclays Global Investors (BGI) has gone live on TLM Reconciliations in Sydney.
TLM Reconciliations was selected by BGI to deliver a single processing utility
for its global operations. The solution is being rolled out across three countries,
with BGI Australia's operations the first to go live, reconciling its cash and
holdings transactions. BGI is using the solution's thin client user interface,
TLM WebConnect, to provide a single window into the reconciliations process. Michael Garrett, Head of Operations at Barclays Global Investors, Australia,
explained that: "We are continually looking for methods to embed processes and
controls that deliver greater efficiency to the business. As a leading global
institution, BGI needed a solution that was capable of automating a variety
of instrument and transaction types across the BGI group on a daily basis. TLM
Reconciliations matched those requirements, delivering a single, scalable solution." Stefan Wawrzyniak, Regional Director for SmartStream in Asia Pacific, added:
"We are delighted that one of the world's leading investment managers has
selected TLM Reconciliations to create a global reconciliation solution." "The
successful implementation of the first phase of this major project spanning
three continents demonstrates TLM's ability to deliver best-in-class transaction
management to the largest global organisations." SmartStream Technologies, a UK-based software licensing and professional services
business, was acquired by DIFC Investments, the investment arm of the Dubai
International Financial Centre (DIFC), in November 2007. DIFC Investments aims to create a new generation of hosted information and
trade processing services, and its intention is that SmartStream will be at
the heart of the secure, scaleable trade processing and data management platform
it is building. .
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