Overview
Modern, highly scalable, settlement engine
Syn
BackOffice is a modern, highly scalable, process-driven transaction processing settlement engine facilitating high levels of STP in the global capital markets. Product and business neutral, SynBackOffice supports the widest range of operational activities.
High productivity
SynBackOffice handles increasing volumes by delivering massive improvements in productivity with clients reporting they are able to double or treble volumes without an increase in back office staff.
Fast and adaptable
SynBackOffice enables users to create new business rules on demand, helping the back office to respond rapidly to bring new products and services on-stream quickly.
“We have already seen that Syn is flexible and fast to adapt to our exact requirements. The idea of being able to change business rules ourselves at will and have them reflected across the board immediately is a radical change for JP Morgan Cazenove. It gives us the opportunity to be more effective, efficient and responsive to the needs of the business.”
Glenn Martin - former chief technology officer, JPMorgan Cazenove
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SynLedger is a multi-entity, multi-currency trading ledger which stores cash postings and maintains cash account balances with a real-time interface to SynBackOffice.
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SynMiddleOffice is a flexible solution design to adapt to the different requirements and definitions that clients may have for their middle office processing, which will vary according to location, instruments and other factors.
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SynCorporateActions offers a real-time, highly scalable solution for improving the gathering of data, the thorough accumulation of coherent positions and management of complex, corporate actions throughout their lifecycles.
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Features & Benefits
Benefits
- Flexible rules-driven lifecycles allowing complex operational structures to be modelled graphically
- Easily extensible business objects and lifecycles supporting changing business for volatile markets, products or client services
- Support for true 24x7 global operations using scalable processing and contemporaneous end-of-day by geographical or business regions
- Use of open standards such as XML and JMS for communication with internal and external systems
- Designed to support in-sourced multi-client business
SynBackOffice key features:
- Trade validation
- Amendment, cancellation, trade audit, search and enquiry
- Settlement instruction generation
- SWIFT indicators, pre-matching
- Settlement instruction shaping, settlement tracking, fails management
- Position keeping
- Safe custody
- Cash management
- Trading ledger
- Reference data
Generally, SynBackOffice focuses on the confirmation and settlement of trades through to updating the general ledger, though is adaptable to meet individual requirements. Flexible functions support an investment bank’s operational activities in the back office, including:
- Settlement Instruction generation
- Settlement Instruction Matching and Shaping
- Fails Management
- Position Management
Transactions can be imported directly from front office systems or from SynMiddleOffice. With the former, SynBackOffice will apply both party and instrument reference data,or if the latter, the trade will already be enriched with standard settlement instructions(SSIs). SynBackOffice then determines how to instruct settlement.
SynBackOffice supports SWIFT (ISO 15022), CREST, CCASS, Euroclear (via SWIFT), Omgeo and XML settlement instruction methods.
