Australian stockbroker JBWere has gone live on the Nova margin lending solution from Misys Securities Trading Systems to support its private client stockbroking business in New Zealand.
The stockbroker is running Nova on a Sun Unix server supported by Oracle database technology. The solution will run in parallel with JBWere’s existing system until current single currency loan agreements expire.
Wayne Panton, business systems manager at JBWere, New Zealand, says: "It was equally important that the technology within NOVA fitted in with our ongoing strategy, providing us with a flexible open database, thereby increasing the control we have over our client data."
Panton adds that the new system will now enable the JBWere to offer multi-currency loans with variable interest rates and amounts.