COR Financial Solutions has acquired the assets of London-based international STP software firm 110 Limited (OneTen), including the Salerio e2e solution, currently used to process about 25% of global assets under management. Financial details were not disclosed.
Salerio e2e is currently used by 25 leading asset management and outsourcing organisations across North America, Europe and Asia, including Capital International, Credit Lyonnais Asset Management, Insight Investments (HBOS) and DIAM International.
Trevor Fromant, the managing director of the COR Group, says: "COR will now be able to provide customers with a complete end-to-end STP solution as well as automating individual parts of the asset and treasury management process. There are a significant number of existing COR clients that will benefit from the Salerio e2e product range."
Salerio e2e can process over 100,000 transactions per hour on a single database server and covers all instrument types for all markets and networks from execution through settlement and reconciliation.