The platform, known as solution for transaction administration and real time settlement (STARS) incorporates ‘Syn~’ technology from Coexis, a financial services technology provider.
Syn~’s modern, flexible, rules and model-based architecture has assisted Penson Financial Services to create a series of pick and mix modules from which client firms choose in order to create a tailor-made, integrated and hosted solution.
Alan Philpot, chief executive officer of PFSL, said: We are proud to have introduced our new STARS institutional platform which is underpinned by Syn~. STARS is designed to help institutional clients which outsource their Model A or fully disclosed clearing to Penson and is flexible and adaptable to their individual requirements. We look forward to signing up more institutional clients to our STARS platform and introducing a new technology platform for our retail clients later this year.
