IRESS, the leading supplier of financial markets, wealth and mortgage management systems, announces the global launch of SmartHub. SmartHub is a trade messaging hub designed to connect financial market participants locally and across the globe, covering FIX and other trading communities.
SmartHub, which launches globally at today’s EMEA FIX Trading Community conference in London, leverages the IRESS FIX Hub, creating an enhanced offering which dramatically reduces financial services firms’ point to point connections and IT footprints across message protocols, bringing down costs and driving efficiency savings while retaining low latency requirements.
The IRESS SmartHub uses cloud-based technology to facilitate financial transactions among market participants, whether buy-side or sell-side, delivering cost and performance benefits for traders, stockbrokers, fund managers, or middle and back office staff. SmartHub supports various protocols enabling message flow covering pre-trade, trade and post-trade functionalities. It provides immediate benefits to existing IRESS clients, giving them enhanced functionality, reach and options to connect globally.
SmartHub has a global footprint and supports multiple asset classes, with 24 hour support in the working week. It provides IRESS’ extensive buy-side community with access to over 500 sell-side counterparties globally, either directly or via seamless connection with all major partner networks.
Industry leading service and support from a dedicated team is standard and a key differentiator post implementation. IRESS offers the delivery of a fully outsourced service, ensuring optimum efficiency and monitoring of transactional activity.
Lionel Sancenot, IRESS’ Head of Business Development for Financial Markets, Europe, IRESS said: “In the global financial market where companies are coming under increasing cost pressures while suffering from an ever increasingly competitive market, enabling trade in diverse regions at a cost effective level is crucial to opening the door to client and revenue growth.
Raymond Pretorius, Managing Director of IRESS, EMEA added: “IRESS has been connecting market participants for over 10 years using a variety of messaging protocols over the business process network that was founded and established in South Africa. SmartHub is the evolution of this technology and will support the speed and reliability of global trade execution - vital elements for those operating in today’s market. By taking care of every aspect of the technology related to sending or receiving transactions with their counterparties, this enhanced offering will reduce operational risk for firms, bring important efficiency savings, and underpin the business growth of our clients by enabling us to deliver enhanced service and support.”