ICBC Implements Helix Financial Systems for Repo and Mortgage Businesses
NEW YORK, Feb. 6, 2014 /PRNewswire/ — Helix Financial Systems, L.P. a leading provider of financial software systems, today announced that Industrial and Commercial Bank of China Financial Services (“ICBC”), has implemented HelixRepo for its Fixed Income Financing business and HelixMBS to automate allocation of Mortgage Back Securities (MBS) pools.
HelixRepo delivers significant productivity improvements to ICBC by providing collateral management functions, real-time access to inventory and transactional information as well as transparency into counterparty risk in a manner not previously available. By automating the To-Be-Announced (TBA) pool allocation process, HelixMBS helps to reduce fail costs and dramatically increases productivity.
“Helix products required integration with some of our proprietary technology, but the implementation could not have been smoother. The team was extremely knowledgeable and understood exactly what needed to be done from both a business and technical point of view,” said Phil Fruchter, CTO at ICBC.
Rich Misiano, Managing Director and head of Fixed Income Financing at ICBC continued, “The quality and level of support we receive from Helix is truly remarkable. Helix stands apart when it comes to customer service and we are really pleased to be working with an organization that understands our unique needs.”
John Hock, Director of Securities Operations at ICBC added, “We were amazed at the automation capabilities and ease of managing TBA pools in HelixMBS. Tasks that used to take 10 minutes now take just seconds.”
“We are pleased to partner with ICBC to help expand their trading operations,” said Todd Berlent, President of Helix Financial Systems. “We find it extremely validating to have them sign up to use multiple of our product offerings, and anticipate they will drastically reduce operational costs and increase workforce productivity.”
About Helix Financial Systems
Helix is a leading provider of financial software systems and expertise to the dealer, asset management, securities lending, banking and insurance communities. Helix automates the trade entry, collateral management, risk management, and trade management process for U.S. and non-dollar fixed income securities. Clients include broker-dealers, buy and sell-side firms, and commercial banks.
Helix is a subsidiary of Cantor Fitzgerald, L.P., a leading global financial services provider to the institutional, equity, and fixed income capital markets.
SOURCE Helix Financial Systems, L.P.