Brokerage Firm Modernized To Stay Competitive

Brokerage Firm Modernized To Stay Competitive

Brokerage Firm Modernized Its Trading Systems To Stay Competitive

A large regional brokerage firm modernized to stay competitive by implementing a new core brokerage and mutual fund trading system to incorporate increased volumes of on-line trading, file transmissions and user-friendly interfaces that the old system lacked and the business had outgrown. Concentration was on automating a straight-through processing approach to DTCC and FundServ platforms that included account set up, fund set up, trading and settlement, position reconciliation and income processing. EI’s Brokerage Industry Consulting services assessed their current capability and provided a future state and roadmap for implementing a new solution portfolio and transforming their operations to use it.

EI’s Business Transformation practice analyzed their existing operating model, documenting existing processes and defining the new operating model, policies and procedures that would drive requirements for the new system. EI’s Solution Implementation services helped prepare an RFP from which vendors were selected and EI’s Program Management practice helped coordinate the implementation of the new solution, and the migration of its Brokerage clients to that solution. As a result of working with EI, the brokerage firm modernized its mutual fund trading capability, improving its customer retention and competitive advantage in the market.