ANZ Global Markets to Use GBST’s Syn~
GBST, a global provider of technology services to the financial services industry, announced June 21 that it has signed a long term agreement with ANZ for the deployment of GBST’s securities transaction platform, Syn~, for the ANZ Global Markets business.
ANZ will use GBST’s Syn~ platform as a complete post trade middle and back office solution. It will enable ANZ to process all types of assets within one system, including fixed income, treasury, equities, and complex OTC derivatives, giving ANZ Global Markets business transparency and control. It will also be used for central reference data management.
Stephen Lake, chief executive of GBST, says: “We’re very excited about expanding the good relationship we already have with ANZ in Australia to support the growth of their business globally. In addition to the existing GBST clients already live in multiple markets in Asia on Syn~, we have a further three new Syn~ implementations underway in Asia as well as our first Syn~ implementation in Australia, all of which are due to go live within the next twelve months.”
“We are very pleased with the momentum we are now seeing in our Global Broker Services Division after a period of heavy investment in the product and the restructuring of the business over the past two years. We believe the growth in interest we’re seeing in Syn~ validates it as the next-generation of technology for clearing and settlement in the capital markets.”
GBST’s Syn~ enables financial services organisations to grow their operations in multiple asset classes, markets and currencies in a controlled and scalable manner. The roll out of Syn~ into the Australian market will continue according to current plans with client commitments already in place for 2012 and 2013. GBST is delivering Syn~ to ANZ in conjunction with its Asian distribution and integration partner, Serisys.