Press releases 2010
LONDON STOCK EXCHANGE GROUP LAUNCHES UNAVISTA CONFIRMATIONS PORTAL
- Eliminates manual processing costs
- Reduces settlement risks
- Matches any data, in any asset class
- Helps firms to meet future regulatory requirements
London Stock Exchange Group today announced the launch of the UnaVista Confirmations Portal.
David Lester, Director of Information Services at London Stock Exchange Group, commented:
"The cost for firms using outdated manual processes such as faxes and emails is high. Manual processes significantly increase the risk of trade confirmations failing. UnaVista reduces risk and cost by replacing outdated, time consuming methods with a cost-effective, secure, audited communication channel that requires no dedicated technical implementation."
London Stock Exchange Group has worked with T.A.C.A, the Trade Allocation, Confirmation and Affirmation industry working group, to ensure the UnaVista Confirmations Portal helps improve the level of post-trade automation in the securities industry. The Confirmations Portal will help address the issues presented by manual processing identified by T.A.C.A, a group made up of a number of global tier one brokers.
The Confirmations Portal helps brokers, investment managers, prime brokers and other firms communicate and match post-trade data, reliably and simply. The service can handle any asset class, and can be used to communicate and match any data including confirmations, allocations, and settlement instructions. UnaVista's flexible communication options and workflow enable the platform to connect participants directly to central counterparties, custodians, and securities depositories as required.
UnaVista is hosted at the Exchange and available globally, so brokers and their clients can easily access the service. Large firms can completely automate their connectivity to UnaVista, while smaller firms can connect through the internet using a browser interface, requiring no local implementation and allowing them to begin using UnaVista almost immediately.
Investment managers are encouraged to contact their brokers if they wish to find out more about the service. Alternatively they can visit UnaVista representatives on the London Stock Exchange Group Stand C105 at SIBOS.
The Confirmation Portal closely follows the launch of the UnaVista Swaps Portal, which automates the post-trade processing of CFDs and other equity derivatives, allowing brokers, hedge funds and prime brokers to communicate and match data through a central, secure, audited platform.
For further information, please contact:
Alastair Fairbrother / Lauren Crawley-Moore
Press Office +44 (0)20 7797 1222
Notes to Editors:
UnaVista is the London Stock Exchange's hosted, secure web-based platform for all validation, matching and reconciliation needs. UnaVista offers a range of business solutions including Post-Trade Services, Data Solutions and Reconciliations.
About London Stock Exchange Group
London Stock Exchange Group (LSE.L) sits at the heart of the world's financial community. The Group operates a broad range of international equity, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS, Europe's leading fixed income market; and Turquoise, offering pan-European and US lit and dark equity trading. Through its markets, the Group offers international business unrivalled access to Europe's capital markets.
The Group is a leading developer of high performance trading platforms and capital markets software and also offers its customers around the world an extensive range of real-time and reference data products and market-leading post-trade services.
Headquartered in London, United Kingdom with significant operations in Italy and Sri Lanka, the Group employs around 1500 people. Further information on London Stock Exchange Group can be found at http://www.londonstockexchangegroup.com/