EXIS Consulting, a leading provider of global debt market software solutions and services to financial institutions worldwide, today announced that FTC Capital Markets, a local broker dealer that is part of FTC Group, has implemented Genesis, a comprehensive solution for capital markets trading.
Genesis enables FTC to automatically record and consolidate its broker/dealer operations in a centralized database and facilitate clearing and settlement through Penson Worldwide, Inc.
Genesis is an all-in-one application that delivers seamless front-to-back functionality combined with advanced technology. Traders can capture trades, review P/L blotters, monitor real-time positions and analyze risk. Operations staff can easily process transactions, submit confirmations and execute settlements. Securities accounting functionality that includes a full-multi-currency general ledger with detailed journal entries and a balance sheet completes Genesis as a full-featured straight-through-processing system.
"Before implementing Genesis, we processed trades manually, which was time consuming, inefficient and error prone," says Manuel Lopez-Tarre, Operations VP of FTC Capital Markets. "Now that the trade data is centralized in one system, we have gained more control over our operations and we can offer better service to our clients."
FTC uses Genesis to record, confirm, clear, settle and mark-to-market all its fixed income and structured product trades as well as repos, loans, options and equities. The new Genesis Penson Upload facility allows FTC to book trades to Penson's system and import it into Genesis, helping increase organization-wide data quality and consistency. With FTC offices in dispersed locations, Genesis helps enforce data standards and encourages information sharing between the geographical regions.
Exis Consulting's CEO and Founder, Kuppu Sitaraman, states: "As a cross-asset platform with strong emerging market and loan functionality, Genesis is well-suited to meet FTC's needs. EXIS Consulting looks forward to helping FTC leverage Genesis to grow its business."