STAR DATA SYSTEMS INC - E-Settlement(TM) Technology Sets Standard For Wealth Management Industry [283]
Canadian Market News from Market News Publishing, Wednesday, August 25, 1999 at 14:00
Star Data Systems, Inc. announced e-settlement(TM) in response to the
growing demands of the emerging wealth management industry. The banking and
investment sectors of the financial services industry are increasingly
focussed on the portfolio management and performance analysis of their
clients' assets. Our rapidly changing world is moving to 24-hour internet
trading, next-day settlement, convergence of securities and cash
transaction processing and more sophisticated and demanding investors.
e-settlement(TM) has been designed to meet the demands of these changes
at substantially reduced costs and settlement risk. e-settlement(TM)
facilitates real-time, integrated transaction processing. It is the natural
compliment to Star Data's very successful real-time information services
that dominate the Canadian retail brokerage industry. e-settlement(TM) is
based on the Multipath System, which has been providing real-time brokerage
accounting services to a growing list of broker and investment dealers for
the past seven years.
Straight Through Processing (STP), a single book of record, an Oracle
relational database management system, an object-oriented suite of
applications based on C++ and Java, and a Unix operating environment based
on the highly reliable and scalable products from Sun Systems are the
critical elements of this powerful technology. The system recently
underwent a comprehensive independent assessment by the highly respected
DMR Consulting Group. They found the system to be a strong foundation for
further investment to build wealth management solutions for our customers.
Star Data provides real-time Information Services and Transaction
Processing Services to the Canadian financial services industry. Star Data
is based in Toronto, with offices in Vancouver, Calgary, Winnipeg, London,
Markham, Montreal, Halifax and London, UK. The Company employs more than
400 people and is listed on the Toronto Stock Exchange under the symbol
STY. For more information on the Company's products and services, visit our
website at www.stardata.com.
e-settlement, Multipath, StarQuote, StarQuote PRO, Star Data and the
Star Data logo are trademarks of Star Data Systems Inc. Unauthorized use of
Star Data's trademarks is strictly prohibited.
TEL: (416) 363-7827 x 6300 Alan Hutton, President, CEO
TEL: (416) 363-7827 x 6203 James Newell, Sr. V.P., CFO
(c) 1999 Market News Publishing Inc. All rights reserved.
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