SmartStream, the financial Transaction Lifecycle Management (TLM) specialist, today announced that its product Corona
, the first solution ever to comply with the SWIFT Certified Application - Electronic Trade Confirmation (ETC) criteria, has again been awarded with the label.
By renewing the label in 2016, SmartStream’s Corona reaffirms its position as an independent securities matching provider and proves its compliance with SWIFT standards throughout the securities lifecycle. As a comprehensive solution, Corona covers the securities lifecycle from the capture of trades to their settlement. This enables users to repair failed trades early in the transaction lifecycle and benefit from reduced transaction costs.
Filip Versluys, Head of Business Architecture and Partner Framework at SWIFT, commented: "Electronic Trade Confirmation (ETC) over SWIFT allows customers to effectively manage cost and risk in the cash equity and fixed income trade allocation and confirmation process. Even more critical in today's environment, the pressure to have compliant operational risk controls in place means that you must demonstrate robust and transparent operational practices globally. We are delighted that SmartStream continues to work with SWIFT to drive the market forward for the benefit of our mutual customers. The SWIFT Certified Application accreditation for Electronic Trade Confirmations now gives institutions even greater assurances that Corona version 7 adheres to specific SWIFT criteria to deliver a complete, integrated business solution."
Rudolf Schnepf, Director of Technology in the Corona Business Unit at SmartStream, added: "The SWIFT Certified Application awards that we have obtained in over 15 years are further evidence of our innovation and product excellence in the domains of operations and risk control. It reflects SmartStream’s continued investment in its Corona solution, enabling users to reduce their cost-per-transaction while at the same time managing increased volume volatility across a wide-range of instruments."