NEW YORK--()--CoreOne Technologies, the leading global provider of financial data creation, aggregation management and distribution services, today launched PrimeOne Solutions, a business unit that offers an end-to-end global prime brokerage technology and services platform. In addition, PrimeOne announces that Scotiabank, Canada’s most international bank, has officially begun operating on the platform for both Reg T., enhanced prime finance and synthetic prime.
“By delivering a mix of proven functionality with a modern, utility-based deployment model, PrimeOne Solutions can slash both time to market and operating costs by up to 90%”
With the launch of PrimeOne Solutions, CoreOne Technologies now offers physical and synthetic prime brokerage, and securities lending operating platforms to go along with their current stable of cutting-edge financial systems.
“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,” said John Stracquadanio, Global Head of Prime Services for Scotiabank.
“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. “The new PrimeOne platform provides both new entrants and existing players in the prime sector advanced capabilities, which were previously achieved through proprietary development by a select group of bulge bracket institutions.”
PrimeOne’s eight-month implementation for Scotiabank was tailored to best serve the bank’s hedge fund clients in the US marketplace. Scotiabank chose PrimeOne’s fully hosted solution, including third party applications and is already delivering robust, end-to-end prime brokerage and prime finance capabilities.
PrimeOne Solutions is a unique technology enterprise, leveraging proven systems acquired from leading investment banks, and delivered by a veteran team of industry practitioners as hosted services. The newly launched platform offers a full spectrum of bundled and unbundled services including equity finance, stock loan, physical and synthetic prime; and accommodates the most complex business requirements such as arranged finance, asset-based billing, tri-party, re-hypothecation and risk-based margin.
“By delivering a mix of proven functionality with a modern, utility-based deployment model, PrimeOne Solutions can slash both time to market and operating costs by up to 90%,” added Liotta.
For more information, please visit the PrimeOne Solutions website, www.primeonesolutions.com
About PrimeOne Solutions
PrimeOne Solutions, a division of CoreOne Technologies, is the only firm in the world offering a complete set of hosted technology solutions for global prime brokers. PrimeOne’s products cover a broad spectrum of capabilities including transaction processing, booking, accounting, swaps, equity finance, margin and stock loan for firms operating prime brokerage/finance business globally. PrimeOne delivers its proven solutions with a veteran team of industry experts based in New York, London and Hong Kong.
About CoreOne Technologies
CoreOne Technologies develops technology enabled service businesses, delivering powerful solutions to firms operating in capital markets. CoreOne targets growth opportunities, as firms implement their post credit crisis operating models. Executing its strategy through a mix of technologies acquired from leading financial institutions, coupled with its internally developed frameworks, CoreOne is armed to deliver proven capabilities in a hosted fashion, through its cutting edge divisions PrimeOne, DeltaOne and VistaOne.
Headquartered in New York, CoreOne serves over 500 financial institutions through its worldwide locations.