Deutsche Bank feels the fourth on GBST Syn system in Australia
GBST Syn system bags fourth win in Australia
Securities processing software vendor GBST has migrated the back and middle-office operations of Deutsche Bank from the legacy GBST Shares platform to GBST Syn for processing the bank’s equity market trades in Australia.
This is GBST’s fourth live Syn installation in the country. Other users are Macquarie Bank, Citi Australia and brokerage and investment firm CLSA, Banking Technology understands.
GBST head of Asia Pacific, Denis Orrock, says its Syn platform now processes more than 25% of Australian equity market trades and “further validates GBST’s long-term strategy of building a new generation platform to replace GBST Shares”.
The Syn platform offers back and middle-office automation, control and visibility of post-trade processes, integration with more than 30 platforms across the group including finance and risk management systems, and reporting through GBST Syn’s business intelligence reporting (BIR).
Syn also provides multi-country clearing from a single platform, and multi-asset, multi-market straight-through exception-based processing (STEP).
GBST was founded in 1984, and employs more than 550 people in offices across Australia, the UK, North America and Asia.
Last year, Haitong International Securities Group went live with the second stage of a middle office revamp in Hong Kong. The underlying tech is the Syn platform.
