SVB, the brokerage arm of Spanish banking group Santander Central Hispano, has implemented Vermeg's J2EE-based order management middle and back office processing platform, Megatrade.
The system will initally manage orders for Spanish institutional clients that invest abroad, but by year end the platform will be extended to orders for foreign institutional clients investing in Spanish stocks.
Santander Central Hispano's wholesale banking unit also uses Vermeg custody and settlement system, Megara, and corporate actions processing technology Megacor.