SmartStream Technologies, a Transaction Lifecycle Management (TLM) specialist, has had its solutions integrated by Societe Generale Prime Services (SGPS), a leading broker in the derivatives space, according to a SmartStream statement.
In particular, SmartStream will be providing its TLM Reconciliations Premium and TLM SmartRecs solutions for SGPS’ internal and external brokerage operations – furthermore, the integration will also see the extension of the TLM services to Exchange Traded Derivatives (ETD) reconciliations.
The selection of SmartStream’s TLM capabilities is important for SGPS as the Reconciliations Premium utility will be garnered across multiple departments to help fortify risk management and control points. In addition, SGPS will also be afforded worldwide access to directly on-board reconciliations via SmartStream’s Centre of Excellence (CoE).
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According to Mark Taylor, Sales Director Asia Pacific, SmartStream, in a recent statement on the selection: “Societe Generale required an easy-to-use solution with the shortest time-to-market. Following a comprehensive internal and external review, TLM Reconciliations Premium and TLM SmartRecs were selected as the optimum solutions.”
“SmartStream’s speed, knowledge and turnaround capabilities, along with a lower total cost-of-ownership appealed to Societe Generale. I am delighted that we were able to demonstrate the value that TLM Reconciliations Premium could provide compared to other solutions and look forward to continuing to build on our relationship with Societe Generale in Asia and across the world,” he added.
Last month, SmartStream made headlines after it launched its TLM Collateral Management adaptor to cater to an augmented lifecycle of trading messages for the non-clearing over-the-counter (OTC) derivatives market.
The TLM Collateral Management Adaptor assimilates SmartStream’s TLM Collateral Management using Acadiasoft’s Margin Sphere clearing services – the launch came on the heels of revised legislation and standards by the International Organization of Securities Commissions (IOSCO) and the Basel Committee.