The shift towards remote and hybrid work models has, for many companies, highlighted the volume of manual processes in the middle office. Organizations are increasingly turning to automation and paperless processes to reduce costs and risks while keeping profits up. Inter-Dealer Brokers need solutions that incorporate risk management and compliance, workflow automation, reporting, and infrastructure integration.
First Brokers Securities (FBS) was looking for a solution with end-to-end automation from trade inception through settlement, eliminating rekeying and potential errors. They also needed automated risk management, workflow automation, integrated reporting, industry-standard connectivity, a cloud-based environment, P&L allocation and management accounting, and automated custodial reconciliation. They needed to automate workflows from trade inception through settlement, to support their current volume and position themselves for growth.
FBS wanted a web-based solution that would integrate seamlessly and provide necessary features like regulatory and compliance reporting, real-time trade matching dashboards, automatic security setup and real-time industry integration. FBS chose Singularity for banking and broker-dealers for its modern cloud-based environment with connectivity to major fixed income sources via APIs.
Singularity helps banks and broker-dealers automate the flow of trades among its 80 brokers and fixed-income liquidity providers, record positions and P&L and settle transactions with custodians. It is an all-in-one system for automation, risk and compliance, reporting, and integration. Singularity, which is part of SS&C’s securities services suite, integrates easily with SS&C’s other solutions to meet the needs of broker-dealers, credit unions and banks.