Delta Capita teams up with GBST to launch financial transaction tax solution

By Megha Bhattacharya

Delta Capita today announced a partnership with GBST following the launch of their financial transaction tax solution, Syn~FTT. The collaboration is part of the company’s growth strategy which will now see the technology firm expand into the post-trade managed services space.

Gary Bullock, Head of Post Trade at Delta Capita, said, “Organisations are preparing for the new Spanish Financial Transaction Tax (FTT) while also battling to stay ahead of the curve for the anticipated expansion of EU FTT. Compliance is complex, and it is essential firms step away from spreadsheets and bespoke, hardcoded systems. Automation has the potential to transform reporting, which is why we are excited to partner with GBST and help organisations to streamline their entire FTT process and workflow across legal entities.”

Recently, London-based Delta Capita announced the launch of a client lifecycle management (CLM) platform, Karbon. The new platform is expected to enable financial institutions to reduce their operational costs (up to 40%) by accelerating the process of information gathering and decision making. The platform offers automated sourcing and aggregation of client information coupled with ongoing monitoring. It aims to boost AML prevention through a configurable workflow, rules, screening and reporting.

Delta Capita, last year, announced its partnership with The Depository Trust & Clearing Corporation (DTCC) in a bid to assist market participants in meeting their Securities Financing Transactions Regulation (SFTR) reporting obligations. The partnership aimed to allow Delta Capita to make its standardized SFTR industry pack available to DTCC for its own SFTR matching and reporting service.

Denis Orrock, Head of Capital Markets at GBST, commented,“We are delighted to be partnering with Delta Capita to help support the implementation of Syn~FTT across the market. We feel this partnership brings the best capabilities together; market-leading technology from GBST which is supported by deep domain knowledge and expertise by Delta Capita to help clients address this complex area in a more streamlined, low risk, fashion.”