Scotiabank picks PrimeOne 18 september 2012New York Reporter: Jenna Jones
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Scotiabank is expanding its prime brokerage operations with PrimeOne Solutions's platform in a bid to attract more hedge fund business.
PrimeOne Solutions offers technology solutions to prime brokers, covering a spectrum of capabilities including transaction processing, position keeping swaps, equity finance, and margin for firms operating prime finance globally.
John Stracquadanio, global head of prime services for Scotiabank said: “Expansion of the prime services business in the US is a critical strategic initiative for Scotiabank’s global banking and markets division. We selected the PrimeOne platform because we were confident that it met our clients’ current and emerging needs. We were quite satisfied to see the project completed and the platform enabled in the timeframe we required.”
The project took eight months to complete and includes end-to-end prime finance capabilities, servicing Scotiabank's prime services clients in the US marketplace.
“We built the PrimeOne business with companies like Scotiabank in mind, delivering comprehensive and advanced capabilities in a more efficient manner within a quantifiable budget,” said EJ Liotta, global head of PrimeOne Solutions.
“We’re driven by delivering a continuous stream of innovative products and services to a marketplace that has traditionally had to build their own technology, at great expense, to service prime brokerage operations.”
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