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GBST completes Syn implementation at Deutsche Bank

Australian firm GBST has completed a back and middle-office migration for Deutsche Bank in the country.

The vendor moved the bank from its GBST Shares platform to the newer GBST Syn~ system. The latter is now live and processing Deutsche Bank’s equity market trades in Australia. The go-live is the fourth for GBST in the country.

“Following Deutsche Bank’s activation, the GBST Syn~ platform now processes more than 25% of Australian equity market trades,” says GBST Head of Asia Pacific, Denis Orrock.

“This elevates GBST Syn~ to the leading post-trade processing platform in Australia, and further validates GBST’s long-term strategy of building a new generation platform to replace GBST Shares.”

GBST touts the Syn~ platform as having “increased back and middle-office automation, greater control and visibility of post-trade processes” and “full integration”.

The Deutsche installation is the most comprehensive use of the GBST Syn~ platform by an institution in Australia, according to the vendor.

GBST CEO and Managing Director, Robert DeDominicis, adds: “We were delighted to work in partnership with Deutsche Bank to create an optimised solution for post-trade processing.

“This meets the requirements for the Australian market and highlights our ability to work in partnership with a client. The success of this installation demonstrates the value that our significant infrastructure and domain expertise contributes, and the strength of our support network across Australia.”

Original Syn

GBST has not had an entirely happy history with Syn~. The vendor acquired the system during a merger with developer Coexis in 2008. GBST initially paid $12.5 million in cash for Coexis, with a deferred payment of $1.5 million.

Syn was intended to be positioned as the replacement for GBST’s middle and back office equities system, Shares.

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