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Christiania Securities AS has choosen to abandon the Tieto system that has been the dominating back office system in the Norwegian securities market for years.
The company now migrates to a system built by Glofietch Solutions, a Swedish company. The system implemented is based on Swedish Fin Tech pioneer Bricknode’s Bricknode Broker.
Christiania Securities has, just like many other securities firms in Norway, worked with IT giant Tieto’s system. But when Christiania, which was founded in 1995, last year came in contact with Glofitech and Bricknode, they began contemplating a move to another IT solution. It wasn’t an easy decision, however.
Kristian Berg, CEO of Christiania Securities:
– Migrating a whole securities operation to a new IT system is a big commitment. In our business the tolerance for technical problems is limited, to put it mildly. But during our talks with Glofitech and Bricknode we became convinced they were up to the task.
The new IT solution has been tailored and implemented by Glofitech, to fulfil Christiania’s specific needs. Among other things they wanted a special function for tracking real time value of mortgage deeds.
– Yes, we have tailored some solutions, says Jack Lystrup Johansson, CEO of Glofitech. But that is generally quite easy, since we work with open software and Bricknode’s API. In this case we did some of the work, while Christiania did some themselves.
Implementation of the new IT solution was made at the end of 2017.
