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“The addition of SSS gives NZX Firms a choice of DMA application providers, allowing greater flexibility and participation in the market,” said Adrienne Quinn, NZX Third Party Relations. “This is critical to growing liquidity.”
“Adding DMA to the integrated customer order entry, settlement and accounting functions of SecuritEase® delivers fantastic speed and efficiency advantages” said Bill Tonkin, SSS’s Managing Director. “Investors will be able to place orders over the Internet, get almost instantaneous confirmation of execution, have a contract note e-mailed to them, and the whole process will be settled and accounted for without human intervention,” said Tonkin.
“We are very encouraged by the increasing number of independent software vendors wanting to enter the New Zealand market and see it as a sign of growing confidence and opportunity here,” said Quinn.
SSS joins other recent additions to the New Zealand participant list - OMFinancial Limited, as the first NZX Futures & Options Firm, Citigroup, as the first market marker, and Deutsche Bank, as an NZX Trading and Advising Firm.
About the SecuritEase® system
The SecuritEase® system is New Zealand’s most successful stock broking system. Developed and supplied in New Zealand by Petone based Scientific Software and Systems Limited (SSS), the SecuritEase® system is the NZX market leader. NZX transactional volume figures to the end of July 2004 show that SecuritEase® system customers processed 42% of the NZSX market, 54% of the NZDX market and 38% of the NZAX market. The patented technology inside the SecuritEase® system, SSS’s constant innovation, and its vision of a fully integrated, real-time, highly automated broking and settlement system are delivering competitive advantage to its licensees. Licensees of the SecuritEase® system include First New Zealand Capital, Forsyth Barr and Direct Broking. Visit www.securitease.co.nz for more information.
