15 Feb 2008
Thomson Financial Launches Thomson PORTIA Settlements Solution
Provides Asset Managers Access to Trade and Accounting Processes on End-to-end Platform
New York, NY
Thomson Financial, an operating unit of The Thomson Corporation (TSX: TOC,
NYSE: TOC) and a leading provider of information, news and technology
solutions to the worldwide financial community, today announced the launch
of Thomson PORTIA Settlements Solution, a complete end-to end platform that
allows institutional asset managers to execute a seamless process, from
trade execution and reconciliation to portfolio accounting and
management.
Thomson is leveraging its technology by introducing two new modules –
PORTIA Notify and PORTIA Recon – designed to give investment managers a
competitive advantage in the support and service of their clients. PORTIA
Notify supplies the automation and transmission of securities trade
notification messages. PORTIA Recon provides for the reconciliation of
securities holdings, transactions and cash between books and records of an
investment manager and custodian banks.
Integration of the modules results in an end-to-end platform that offers
the asset manager greater accuracy, improves external communications,
enhances efficiency and control, and reduces headcount. Thomson worked
closely on the project with Electra Information Systems, an innovator in
reconciliation, trade automation and settlement solutions.
“Thomson PORTIA is evolving into a more comprehensive enterprise-wide
accounting solution to meet the growing demands and sophistication of our
global client base,” said Christen Bremner, Managing Director, Thomson
PORTIA. “PORTIA Notify and PORTIA Recon modules automate a number of manual
middle-to-back office processes usually handled by additional personnel. By
seamlessly integrating the modules with our world-class portfolio
accounting system, asset managers gain convenient access to a comprehensive
range of data and transaction information, all on single desktop,” said
Bremner. “What’s more, the new functionality is highly complimentary with
current capabilities and allows for the expanded use of PORTIA across
business lines,” added Bremner.
“We are delighted to support Thomson Financial in the development of the
PORTIA Settlements Solution,” said Ian Danic, Managing Director for
Electra. “The newly integrated solution demonstrates the understanding
Thomson has of the critical role reconciliation, trade automation and
settlements solutions play in the market today,” said Danic
About Thomson Financial
Thomson Financial, with 2007 revenues of US$2.2 billion, is a
provider of information and technology solutions to the worldwide financial
community. Through the widest range of products and services in the
industry, Thomson Financial helps clients in more than 100 countries make
better decisions, be more productive and achieve superior results. Thomson
Financial is part of The Thomson Corporation (www.thomson.com), a global leader in providing
essential electronic workflow solutions to business and professional
customers. With operational headquarters in Stamford, Conn., Thomson
provides value-added information, software tools and applications to
professionals in the fields of law, tax, accounting, financial services,
scientific research and healthcare. The Corporation’s common shares are
listed on the New York and Toronto stock exchanges (NYSE: TOC; TSX:
TOC).
About Electra
Electra Information Systems, Inc. is an industry innovator in providing
solutions for Data Aggregation, Reconciliation and Settlements. Electra
brings unparalleled expertise in delivering highly effective, easily
implemented solutions that are used by 40% of the top 25 investment
management organizations and has become a market leader in providing
reconciliation, trade settlement automation solutions. Electra transmits
detailed information on over 1.5 trillion dollars (US$) in cash and
securities holdings daily. Electra customers cover the breadth of the
financial services industry, including Investment Managers, Hedge Funds,
Insurance Companies, Custodial Institutions and Banks. Founded in 1998,
Electra is headquartered in New York City. For more information about
Electra’s products and services, visit www.electrainfo.com.
Contacts
Janice Addams
Senior Manager, Public Relations
Thomson Reuters
Tel: +1 646 223 6940
Email