Description

 Premex Repository Platform

The leading Russian voice broker Premex is glad to report about commissioning of electronic information platform which will allow to automate and improve the current business processes of the company and clients. The Premex platform will include three large blocks: front office, back office and a repository –innovative service, new to the Russian market developed by Premex in interaction with repositories of NRD and Saint Petersburg Stock Exchange. The presentation of a product took place at the end of September at a seminar that was organized by National Settlement Depositary and mainly was about repository platform.

Due to the increasing volume of transactions of Premex clients  and new control requirements  from the regulator of the auction, there was a requirement to add a voice operating mode with electronic functionality which will allow clients to receive  market information on OTC tool. It will accelerate and simplify document flow between back offices, and also optimize interaction with repositories according to their requirements and the legislation of the Russian Federation.

At the first stage the participants of electronic Premex system will receive unique service within the Repository block. According to the legislation on securities market of the Russian Federation sending the reports to a repository became obligatory. The voice broker  Premex as the main organizer of transactions in the OTC market, will act as the coordinator of interaction of bidders with repositories. Main operations will be automated. In particular, sending, change of contracts, the operational notice of changes of regulations, interaction.

It will provide our clients the following advantages:

•     Universal and simultaneous access to two repositories in one product (NRD and Saint Petersburg Stock Exchange).

•     Simplicity in reports of all OTC transactions of the participant in a repository through automation of process of sending general agreements and contracts.

•     Considerable cost reduction in creation of own module of interaction with a repository.

•     Prompt obtainment of information on any changes of legal documents and forms of the reporting of a repository.
•     Always up to date software version answering to all standard changes.

It should be noted that Repository is an absolutely new product both in Russian and in world practice in general. That’s why the regulatory base is still being improved constantly. The repository regulations oblige the client to trace and make any changes that provide interaction with repositories. At the same time Premex will transmit any standard regulatory changes into the electronic platform, and will always provide the latest version of software.

Further the repository module will be added with two more blocks. Within the block "Front office" traders and dealers will be able to receive quotes, to see the flowing buy/sell sheets, to submit applications, to unload archive in the on-line mode, to communicate in a chat. In electronic system of "Back office" one can check and see confirmation of transactions, formation of reports, accounts, correction of mistakes in documents, unloading of history of transactions, data acquisition by inquiries will be carried out. Automation process will reduce the time for verification of transactions minimizing the operational risk.

The admission to the electronic Premex platform is open, there is an integration with client systems. Premex also plan to collaborate with other repositories, to develop and deploy new services for successful work of all the participants of the OTC market.

For any additional information please call: +7 (495) 974-36-48.

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