Financial IT vendor Wall Street Systems has appointed Dave Clark as business development manager for its back office outsourcing business SOCX.
Clark previously worked at Frustum (now part of Misys) where he was responsible for the Opics client base in the Emea region. He has also held senior positions at Ibis and BIS Banking Systems.
SOCX (settlement and operations clearing eXchange) was initially a joint venture between Wall Street Systems and Deutsche Bank in 2001. The vendor acquired the bank's stake in the business in Febraury 2003.
Seperately, Wall Street Systems has launched an 'Internet Extensions Hub', which gives banks the ability to brand, customise and extend the functionality of The Wall Street System to their customers online.
Corporate banking customers can use the system to obtain rates on a variety of products, including foreign exchange, money markets and fixed-income securities; execute trades against these rates and obtain trade confirmations via the Web. The service is designed to replace more traditional proprietary terminals, which are typically both difficult and expensive to maintain. An additional suite of analytical features is available to customers for trade analysis and reporting.
The software also offers enhanced STP by interfacing directly with the bank's back office, custody, and rate feed systems, says the vendor.
Internet Extensions is a J2EE-compliant, servlet-based application that dynamically generates HTML rendered in the user's browser. It communicates with The Wall Street System core engine using XML via The Wall Street System Object Toolkit. Using industry-standard branding techniques, such as eXtensible Stylesheet Language (XSL), banks can ensure the look and feel of the customer interface is consistent with their own brand guidelines.