GBST: Next Generation Tools for Streamlining the Capital Markets

Justin O’Sullivan Head of Technology, Capital Markets
With financial firms pursuing Big Data initiatives, the focus on effective application architecture that would support ingesting streams of data has increased, while enabling both traditional and real-time analytics. Data aggregation is critical for facilitating risk management initiatives, transparency, having an end-to-end view, and enhanced analytics.

Financial institutions are also struggling with challenges around shortening of settlement timeframes and alterations happening in the cost profile of post-trade servicing. These changes and obstacles have caused many firms to slow down in their journey; but for the clients of GBST it is a bump free road. “GBST provide software and solutions to the financial services industry, specializing in capital markets, securities processing and wealth administration that helps them to streamline their business operations and drive value out of them,” delineates Justin O’Sullivan, Head of Technology at GBST. GBST’s platforms already support shortened settlement cycles for clients in various markets, on a single instance of their Syn~ platform.

The solutions of GBST are designed specifically to meet the needs of regulated marketplaces to which organizations must conform. Syn~ is a process platform with strong inbuilt support for workflow and rules processing. Syn~ has expertise in modeling the business objects and defining their life cycle and has a strong integration capability that enhances its adaptability in different systems. GBST has proven experience in providing secure networks for financial institutions around the world. “We were the first vendor in Australia to provide real-time cash messaging between brokers and banks,” claims Justin.
Building on this expertise, the company has extended their reach into other spaces such as Standard Settlement Instruction (SSI) enrichment and Omgeo Direct interfacing to automate pre-settlement processing. With shortening settlement cycles, GBST sees an opportunity to facilitate improved same-day affirmation rates and their investment in FIX, SWIFT, and Omgeo connectivity is testament to this.

Many firms in the capital markets industry in Australia, Asia, Europe and now the U.S. have implemented and leveraged GBST solutions for their back and middle office processing. For instance, Raymond James Financial, a leading diversified holding company, wanted to augment their efficiency by minimizing the need for manual intervention in their middle office processes. Moreover, the client wanted to overcome the challenges associated with the ‘home grown’ legacy systems to meet pace with today’s quickly evolving technology. GBST implemented its post-trade platform, replacing a number of legacy systems and manual tasks for middle office processing in Raymond James’s institutional business. It enabled Raymond James to build a new pre-settlement platform that automates the trade cycle, while also making it easier to manage business and regulatory changes.

GBST expanded into the U.S. in 2014, and is also seeing strong growth in Asia where markets are adopting the ISO20022 messaging standard as the Depository Trust and Clearing Corporation has done for corporate actions. “Our plans are to expand market and asset class support to offer our clients with the ability to process their businesses as efficiently as possible. We already have a number of clients using a single instance of the Syn~ platform to process multiple markets in their middle and back office—this is where real efficiencies can be seen,” concludes Justin.

Company
GBST

Headquarters
Queensland, Australia

Management
Justin O’Sullivan Head of Technology, Capital Markets

Description
Provides technology services to the global financial services industry for addressing the constant needs for innovation, competitiveness and responsive IT that truly enables business