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CSS Launches Service Bureau Solution for Securities Industry

The enterprise-wide brokerage software system is designed for processing of front-, middle- and back-office securities transactions.

Comprehensive Software Systems (CSS), a supplier of software solutions to the securities industry, introduced its mission-critical, enterprise-wide brokerage software systems for processing of front-, middle- and back-office securities transactions.

The system is built around a relational database which manages data on a real-time basis throughout the brokerage platform. The entire system is built on Microsoft technologies. The vendor announced that Stephens Inc., an independent Little Rock, Arkansas-based investment bank, has selected CSS to provide its enterprise software processing services.

CSS's single data source for all users eliminates the need for redundant data, multiple interfaces and data synchronization with disparate legacy systems built on 30-year-old technology, the vendor said. Unlike legacy-based solutions, CSS's core relational database design promotes efficiency in new product development and implementation of mandated regulatory changes.

"The introduction of the CSS service bureau is a watershed event that will rapidly lead to the transformation of the processing capability of the securities industry," said Mike Landy, president of Comprehensive Software Systems. "The relational database's breadth of data and the scalability and reliability of the platform creates the opportunity for CSS to revolutionize mission-critical front- through back-office processing."

The full enterprise suite of functionality is available 24 hours a day to clients on a real-time basis through its "Time Independence" functionality.

The enterprise platform is modular, which allows all types and sizes of clients, including institutional, retail and high-velocity trading firms, the ability to subscribe only for the point solutions necessary to run their businesses.

The private-client wealth manager's workstation includes householding, order-entry, what-if margin analysis, cost basis and performance reporting in a Windows-based view, all in real-time fed by the single enterprise-wide relational database at its core. The mutual fund module includes order-entry, break-point calculations, automatic networking direct to the funds and householding.

The middle- and back-office Windows"based views from the single data source incorporate exception-based processing resulting in efficiencies that reduce operating costs while improving risk management. The ability to query the system is unmatched in the industry today. The product also offers integrated customer contact management, imaging and work-flow functionality, reducing the need for and costs of ancillary systems.

Melanie Rodier has worked as a print and broadcast journalist for over 10 years, covering business and finance, general news, and film trade news. Prior to joining Wall Street & Technology in April 2007, Melanie lived in Paris, where she worked for the International Herald ... View Full Bio

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