By Calvin Azuri

TMCnet Contributing Editor

 

Serisys Solutions, a provider of next-generation applications for Asia-based capital market, investment and banking industry firms, announced the opening of its Southeast Asia headquarters in Singapore.

 

“Singapore is widely recognized as one of the most important financial centers in Asia,” said Tim Marsh, Chairman at Serisys Solutions, in a statement. “Leading financial institutions have established regional trading and operations hubs in Singapore which means it is a critical part of our growth strategy.”

 

The Singapore Stock Exchange (SGX) and the Monetary Authority of Singapore (MAS) have been instrumental in opening up the local market in Singapore, making the country one of Asia Pacific’s major financial centers. Global financial services institutions now wish to capitalize on Singapore's advanced infrastructure and regulatory framework as a platform for their best technologies and operating practices.

 

“For example, one of our solutions, Syn from Coexis, is being used in Singapore for delivery of high STP/STEP (Straight Through Exception Processing) rates using automated interfaces and integrated real-time workflow and monitoring to improve efficiency in securities middle office, clearing and settlement,” Marsh said.

 

He added: “This improves customer service, reduces cost and reduces the need for scarce skilled personnel, even as trading volumes in Asian markets grow relentlessly. Serisys is proud that we are enabling the financial services institutions to introduce world-class practices in Singapore through our applications to give them a competitive advantage.”

 

Serisys is convinced that the opening of the new office in Singapore is a strategic investment due to Singapore's initiatives to build a robust, sophisticated financial market structure. Equity trading value increased to 300 percent year on year from 2006 to 2007, driven largely by foreign investments from India, China, Korea, Japan, and other parts of Southeast Asia.

 

The SGX has plans in the pipelines to introduce a wider product range and alternative investment exchanges hosting a broader spectrum of products to raise capital. In May, Singapore's third Alternative Trading System (ATS) or "dark pool” BlocSec was opened to provide an alternative liquidity source to the SGX.

 

Serisys offers a solution—LBM from 29West—that provides low latency messaging for trading split-second arbitrage opportunities on the SGX.

 

Marsh is confident that the new Singapore office will contribute to maintaining Singapore’s strong position for financial services compared to the rest of South East Asia. The move is expected to enhance Serisys’ service capabilities for its customers, investment banks, hedge funds, ATS, stock exchanges, and brokerages to assist them with succeeding in South East Asian financial markets.