15 July 2003 03:45
Standard Life signs up for Salerio
Standard Life Investments has implemented the Salerio e2e solution from COR-STP Solutions, the asset and treasury
management systems arm of COR Financial Solutions, a UK-based financial technology developer.The UK investment house,
with GBP78bn (€111bn) of assets under management, is the first significant new customer for the straight-through
processing (STP) product since COR acquired the assets of its developer, One-Ten, in April 2003.
Salerio e2e is a configurable trade management system that can automate some or all areas of the trading cycle, from
order processing through to confirmation, settlement and account reconciliation.
When COR acquired One-Ten, Salerio was used by 25 asset management and outsourcing organisations across North
America, Europe and Asia, including Capital International, Crédit Lyonnais Asset Management, Insight Investment
and AIG.
Lennie Ramanauskas, head of investment administration at Standard Life Investments, said: "We selected Salerio
e2e to provide end-to-end automation of the transaction processing lifecycle across a range of asset types."
The product will replace a combination of in-house developed software, electronic trade confirmation service provider
software and a number of manual procedures, he said.
Implementation of the product has begun at Standard Life Investments in Edinburgh. Various phases of the project will
go live over the coming months, including Salerio e2e middleware, electronic trade confirmation and electronic trade
delivery for securities.
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