Haitong International continues roll-out of GBST’s Syn middle office system
Haitong International Securities Group has gone live with the second stage of the middle office revamp. The underlying tech is the Syn capital markets platform, provided by GBST, an Australia-based securities processing software vendor.
Haitong signed for Syn last year and reported the first go-live in November.
It has adopted the Syn platform as it seeks business expansion. The firm anticipates “rapidly growing trading volumes”, and says it needs an automated middle-office with low-latency matching and confirmations capability.
The second phase focused on confirmations.
According to Marcus K C Yang, Haitong’s operations director of global markets, the company is “already achieving business value, measurable productivity gains and client satisfaction”. He adds that “there is so much more potential to explore”.
Haitong has also recently implemented the Global One solution to manage its new stock lending and borrowing business in Hong Kong. The system is supplied by Sungard (now part of FIS).
Global One provides front-office trade input and management for Haitong’s principal lending business with operational tasks for automated dividend and corporate action processing, settlement procedures, marks and full exposure and collateral management.
Haitong says it is looking to handle more of the trade flow resulting from the growth of cross-border equity trading via Shanghai-Hong Kong Stock Connect (the cross-boundary investment channel that connects both stock exchanges).