Tieto launches UK stockbroking, private client technology
Tieto, best known for its position as an IT services provider in the Nordic region, has launched into the UK and Irish financial services sectors, with a focus on stockbrokers and private client wealth managers.
Its Tieto Securities solution operates as a so called software-as-a-service. Users are offered a real time middle and back office, with order routing for best execution, automated reconciliation, management and limit controls, automated corporate action management, ledger bookings and updating of CREST and custody.
Tieto said its existing customers are achieving “more than 99%” straight through processing (STP) rates
Chris Gregory, Business Development Tieto Securities, said: “The UK’s stockbrokers are faced with decreasing commissions and trading volumes, and growing costs. Tieto’s solution provides these financial institutions for the very first time with the ability to deliver excellent, personalised customer service, across all financial instruments, at every stage of the trade lifecycle. The system enables real-time, online customised client and regulatory reporting at a cost that makes sense for the business. Tieto’s fresh, client-focussed approach, backed up by a solid and robust European business with a large user base makes it the first real technology alternative this market has seen for some time.”