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SIBOS News: Wall Street Systems To Host Derivatives Processing Solution

Wall Street Systems, a provider of treasury, trading and settlement solutions and services, announced at SIBOS this week that it's now hosting its BackOffice software. The company will act as an application service provider for those firms that don't have the interest or resources to develop and maintain software for securities and derivatives operations.

Wall Street Systems, a provider of treasury, trading and settlement solutions and services, announced at SIBOS this week that it's now hosting its BackOffice software. The company will act as an application service provider for those firms that don't have the interest or resources to develop and maintain software for securities and derivatives operations.The BackOffice software will be maintained in the Savvis data centers Wall Street Systems already uses, which are secure, high-uptime facilities, according to Rick Schumacher, director of products. The software can handle post-trade processing for a range of products including securities, fixed-income products and credit derivatives. BackOffice also provides workflow and global cash management tools. "There are a lot of firms with aging technology in the back office," Schumacher says. "When you get into exotic instruments or your volumes grow, it's hard to use old technology." The hosted software will be sold on a volume-based transaction pricing model.

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