Seylan selects Synapsys’ MarginX to support Margin Trading Operations

Sunday, 14 November 2010 21:35 - - {{hitsCtrl.values.hits}}

Seylan Bank selected MarginX, Synapsys’ award winning Margin Trading Solution, to support Margin Trading Operations.

Implementation of the system is already underway and it is expected to go live in the next few weeks.

Margin Trading is primarily a lending operation where the Margin Traders offer facilities to purchase more shares based on an existing share portfolio that is pledged with the Financier. The new shares purchased too would be pledged further to increase the customer’s borrowing capacity. As such, usage of a Margin Trading facility has the capacity to yield higher profits to the borrower under favourable conditions, with the Financier having the right to sell the shares during unfavourable conditions, if necessary.

Synapsys is an ISO 2008 certified company providing consulting, business solutions and managed services to the Financial Services Industry. MarginX is Synapsys’ Margin Trading Solution that was selected for a Silver award at the National Best Quality Software Awards 2009. MarginX is an automated web based solution that processes inputs from Stock Brokers and CDS to help organisations such as banks and stock trade related firms to conduct Margin Trading efficiently. Further, it can be easily integrated with any back-end system.

In view of these features, Seylan Bank which has been facilitating Margin Trading clients from 1993 selected MarginX to further streamline its Margin Trading operations. The Bank envisages higher productivity through automation of service delivery processes thereby achieving highly improved service levels to their Margin Trading clients.

Synapsys Ltd., a fully-owned subsidiary of DFCC Bank, is a company that offers Consulting, Business Solutions and Managed Services. Highly experienced in having set-up and managed mission critical IT environments in the field, Synapsys focuses on Financial Services Industry (FSI) as its primary market.