This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Accenture Completes Transfer Of Securities Processing Operations For First Client Of Accenture Post-Trade Processing

Accenture (NYSE:ACN) and Societe Generale Corporate & Investment Banking (SG CIB) completed the first step in transforming the bank’s securities processing back-office operations on October 14 by transferring them to Accenture Post-Trade Processing, a service launched by Accenture and Broadridge Financial Solutions (NYSE:BR). The solution is designed to help the bank improve competitiveness, adapt to changes in regulation and market infrastructure, and reduce costs.

Accenture Post-Trade Processing is managing the back-office securities processing for SG CIB – including settlement, asset servicing, reference data, reconciliation and administrative accounting – under the agreement between Accenture and the bank announced in July. As part of the initiative, a number of SG CIB employees have joined Accenture with post-trade processing skills relevant in more than 50 financial markets.

In the second phase, Accenture Post-Trade Processing will transfer SG CIB’s securities processing to a new, multi-entity platform based on Broadridge technology. The platform is designed to reduce resources and simplify preparations for compliance with new and existing regulations; optimize performance with access to real-time trade information; and quickly and efficiently launch new financial products and enter new markets. The new platform will allow Accenture Post-Trade Processing to serve multiple clients operating in Europe and Asia-Pacific.

“We are very pleased with this initiative to create a new securities back-office outsourcing solution for investment banks in Europe and Asia-Pacific. Accenture Post-Trade Processing will allow us to deliver top-level services to our clients while being price-competitive with the largest players in the industry,” said Christophe Leblanc, Chief Operating Officer, Corporate & Investment Banking, Private Banking, Asset Management and Securities Services, Societe Generale.

Eugenio Bonomi, senior managing director and head of Accenture Post-Trade Processing said, “Societe Generale Corporate & Investment Banking shows foresight and vision with this initiative. In an increasingly competitive and capital-intensive industry, this new approach to post-trade processing will help the bank meet its efficiency and client service objectives. Our longstanding relationship with Societe Generale Corporate & Investment Banking and understanding of the global investment banking business is helping make this a seamless transition.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,070.40 +46.34 0.26%
S&P 500 2,114.49 +6.20 0.29%
NASDAQ 5,016.9290 +11.5380 0.23%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs