Petone firm launches integrated dealing and settlement system for sharebrokers

By Rob Hosking

Friday 23rd August 2002

Scientific Software & Solutions is banking on a thriving third-party development market to support its new sharebroking software.

The Petone-based firm has just released SecuritEase, a fully integrated dealing and settlement system that provides automated processing of transactions between investors and the Stock Exchange.

The software, which has NZSE approval, manages portfolios and position-keeping so brokers can easily access client orders, transactions, history and balances. It manages equities and fixed-interest instruments for the New Zealand and Australian markets, including indexed bonds.

"So far as we know, this is the only product that combines managing equities and fixed interest securities," director Bill Tonkin said. "The other thing we have gone for is keeping the software as open and flexible as possible.

"Firms generally have their own way of doing things and you have to be able to adapt to that. Typically with this sort of thing the modifications people are seeking are to do with reporting."

Another common variation is the broking firm's internet presence, specially as increasing numbers of brokers are going on the web. Unless that was tightly integrated with the firm's main business systems there were few advantages, Mr Tonkin said.

"If a firm wants to change the reporting facility, for example, and build extra columns or whatever, that is operational, tactical stuff. Customers do want the freedom and flexibility to do that but for us it's not strategic work and we don't want to be spending time and resources doing it.

"So we're encouraging a market, based around industry standard skills, that can allow our customers to internally adjust according to their needs, or to go and pick up a developer to do that kind of work."

The company is already talking to the ASX about gaining accreditation there. Software that worked with such authorities needed to gain approval first and that process provided a further guarantee to clients, Mr Tonkin said.

Recent changes to Stock Exchange rules were likely to help, he said. Earlier this year the NZSE moved from a flat fee-charging regime to one based on the number of transactions. SecuritEase, still in development then was tweaked to allow for this.

ON THE WEB

* www.sss.co.nz

* www.securit-ease.co.nz

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