Integrated Software Solutions (ISS) is developing MomentumSP, a Web-based application to handle global securities processing. As a single, global solution, ISS' new Web-based system will support domestic and international corporate trust operations in a straight-through processing environment. MomentumSP will streamline securities processing in a multi-currency, multi-calendar and multi-time zone mode on a single platform that operates on the SolarisTM Operating Environment (Solaris OE), NT and AIX systems.

Developed in response to the needs of international securities processing organizations, MomentumSP will enable organizations to seamlessly process obligations across multiple facilities located in different parts of the world.

ISS' technological advances in securities processing are just some of the reasons why one of the world's largest securities processing banks chose ISS to provide their corporate trust division with a single global platform for obligation processing, which will replace an estimated 15 to 20 existing systems and components that are currently being used.

MomentumSP provides processing for banks that perform corporate trust, paying agency, registrar and transfer agent services. The system processes a wide array of securities, including corporate and municipal issues, commercial paper, medium-term notes, equities and structural asset-backed and mortgage-backed products.

Development of MomentumSP is ongoing. ISS' first implementation of MomentumSP is scheduled for 2003, with system conversions from both in-house and legacy systems, as well as integration to multiple internal and external systems.

"This is a significant project for us," said ISS president and CEO Michael Glynn. "Our ongoing development of a true Web-based, international securities processing system moves us to the forefront in global securities processing."

http://www.issinfo.com

lbonilla@issinfo.com

(610) 993-8561 [...read more...]

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