Brampton York Software Technologies, the software and systems development company has announced the launch of BOSS (Bid Offer Spread System), the company`s first commercially-available product that is set to enhance the way in which asset management institutions and stock broking firms communicate with each other.
"We are very pleased with the results achieved so far both in the development of BOSS and the response it has received from the market. Eight months ago, one of South Africa`s largest asset managers adopted and implemented our new product. To date, BOSS has been successfully implemented in eight international brokerages operating in South Africa. Although we were confident that the response to the product would be positive, we did not anticipate such a rapid rate of acceptance. Since its introduction to the market, we have developed further enhancements and functionalities to make it a more user-friendly product," says Stuart Mackereth, managing director, Brampton York.
"Simply stated, BOSS is a unique and innovative financial services product that has been designed to assist communications between the stock broking community and asset management houses. When communicating, stocks are advertised as a Buy or a Sell - commonly known as an Indication of Interest (IOI). At the institutions, Bids and Offers need to be monitored, consolidated and acted upon by institutional traders. This form of communication has traditionally been either manually executed via telephone or through other larger, more expensive, electronic systems."
BOSS has been developed as a support tool for both brokers and institutional traders. The product`s easy-to-use interface allows the stockbroker to capture the Bids and Offers as and when they come about. This information is then encrypted and sent to the institutional trader via a standard e-mail delivery system. The information, upon arrival at the institution, is added to a database that interacts with an existing asset management system. The trader is alerted to the arrival of new Bids and Offers and to any immediate matches found in the asset management system. At this point, the institutional trader can effect a transaction telephonically, or electronically forward the information to the portfolio manager.
"I doubt that we will ever remove the telephone and person-to-person methods of communication, but we do believe that we have made the receiving and managing of this data an easier and more efficient process," says Mackereth. BOSS speeds up the deal-response time, and the database allows the system to monitor trends and brokerage market movements.
Brampton York`s strategy and business focus is on developing products that provide their financial services client base with leading-edge technology. "We are pleased that our first commercially-available product not only meets our clients` needs, but that it also places them in a strong position within a highly competitive market. In support of the product`s launch to the market, we have set up a support desk that will log calls and provide telephonic support. With our skilled developers on-call to facilitate and implement any necessary changes, we guarantee a quick turn around," says Mackereth.
"We have taken a community development approach to BOSS, and we encourage feedback and contribution from all our clients. Not only will this feedback allow us to make the product more applicable to individual systems and needs, but it also will allow us to continually strengthen the product`s capabilities with enhanced applications. Part of our strategy going forward will be to add additional functionalities as specified by the user community," concludes Mackereth.
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Brampton York`s group of companies focus on cutting-edge technology and wealth creation for both the company`s employees and its blue-chip client base. Based in Johannesburg, the company is dedicated to innovation and strategic implementation of new ideas in the local IT industry. Further information on Brampton York can be found at www.bramptonyork.com.
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