News 14/12/17

Trace Financial helps Evolution Securities to Unavista success

Evolution Securities Limited has successfully consolidated its main transaction reporting streams to the LSE’s Unavista service, with the help of Trace Financial’s Transformer and Cloverleaf®finance.

Evolution had previously used three different services for Transaction Reporting – Euroclear’s CREST, Xtrakter’s TRAX, and the FSA’s own TRS. However a review of the impact of increasing fixed income and equity volumes led to a plan to consolidate reporting flows into a single service, to cut costs and reduce operational/regulatory risk.

Evolution chose the LSE’s Unavista service as the best way to meet its regulatory obligations in a robust, controlled fashion and obtain additional visibility, exception monitoring and reconciliation capabilities.

Transformer and Cloverleaf provide integration with UnaVista

Trace Financial’s Cloverleaf®finance and Transformer were acquired by Evolution in 2007 to create a strategic settlements messaging layer. Now these products are also providing the required post-trade message flows and data mappings from several in-house systems for onward transmission to Unavista.

Clovereaf®finance also provides monitoring of the response files and error handling, raising email alerts to selected users, so that any issues can be recognised and handled promptly.

Tcha Willson, Head of IT of Evolution Securities said: “We have been very pleased with the way Cloverleaf and Transformer have helped us to achieve our initial transaction reporting goals with Unavista. We are now moving on with Trace to take advantage of Unavista’s cash and stock reconciliation functions. Trace Financial’s long experience of CREST and Transformer’s ability to work with all CREST formats are especially useful in this area”.

John Murphy, Managing Director of Trace Financial said: “This project illustrates the benefits of a partnership approach, where our messaging products and services skills combine to deliver real benefit to the business. It show how a truly agile messaging infrastructure allows the operation to quickly and fully realise the benefits offered by new services such as Unavista”.

About Evolution Securities

Evolution Securities is a leading investment bank specialising in the UK and European equity and debt markets. Services include equity and fixed income research, institutional sales and trading, equity market making, corporate finance and corporate broking. In addition, Evolution Securities is an acknowledged leader in investment banking activities for UK small and mid cap companies and institutional investors. Evolution Securities is a subsidiary of The Evolution Group plc.