Pirum Systems has launched a securities transaction processing solution as part of its “Future Tech” initiative.
COACSConnect is a “revolutionary offering that provides the risk reduction, connectivity and automation needed to process both mandatory and voluntary corporate actions,” says Pirum.
Leveraging its “unique network and connectivity in securities financing,” Pirum’s COACSConnect service aims to enable market participants to create, match and disseminate notifications related to securities transactions.
By centralizing these processes, Pirum promises to enable market participants to quickly settle complaints and resolve disputes in a highly secure and fully audited workflow.
COACSConnect will also “dramatically reduce the friction and inefficiencies” that exist in the post-trade securities finance operational landscape, adds Pirum.
In a statement on the launch, Pirum’s Head of Product Development Robert Frost said: “This is the first step in what will become a comprehensive offering for the securities finance market and is another solution being launched in as part of Pirum’s “Future Tech” initiative. ”.
The Future Tech Initiative seeks to automate and digitize front-to-back securities and OTC funding processes.