Andrew Siciliano, Chairman
“We are seeing a big shift wherein financial enterprises, unlike in the past, are relying on third-party vendors to manage middle- and back-office systems for FX trading operations,” says Andrew Siciliano, Chairman and CEO of Elysium Technology Group. With over two decades of expertise in managing and trading proprietary global macro products for banks and dedicated funds, Siciliano says that right now, due to low volatility and declining trading volumes, market participants in foreign exchange trading are focused on cost saving IT infrastructures and integrated solutions that deliver necessary but competitively non-differentiating functionality. Elysium’s software solutions, specialized in running middle- and back-office functions, creates a “plug-and-play” environment which quickly integrates to any execution platform, bank or prime broker. Harnessing an easy-to-use dashboard displaying relevant information, third-party brokers can capture trades in real time and handle large volume of orders, with less time, meeting all compliance requirements. Elysium’s expertise in migrating operations from on-premise servers to cloud-based architectures also allow clients to make the inevitable move with operational efficiency. Server hosting costs have been slashed by 50 percent or more for our clients, underwriting most if not all of the cost of Elysium’s services.
Elysium’s Mission Control solution, a one-stop shop application combining best-of-breed functionalities, helps trading managers to act with complete information. “With our robust business analytics, historical and live performance metrics, and incorporating our clients market data feeds and pricing engines, the solution drive clients to the best trading and operational protocols,” asserts Siciliano. Further, “In trading, money making opportunities pop up and disappear very fast. Firms instantly responding to this change make profitable incomes,” adds Siciliano. The vendor-agnostic solution combines and monitors live positions, trades, credit, reconciliations and, profit and loss statements, regardless of the number of prime brokers or liquidity providers empowering FX enterprises with the most efficient trading.
The firm’s software framework automates trade workflows, and centralizes the complete processes into a single architecture with an intuitive user interface.
Market participants in foreign exchange trading are focused on cost saving IT infrastructures and integrated solutions; Elysium excels in catering to these key requirements
“Mission Control is designed to be our client’s window to their business world and has been adopted by many large financial enterprises to be the heartbeat of their business,” remarks Siciliano. The solution also supports client customization to cater to their specific needs in accessing and managing post-trade processing, risk management, and client reporting.
Furthermore, the company offers an array of bespoke applications for seamless transaction and currency exchange operations. “Many of our clients struggle in finding liquidity providers for large amount money transfer/exchange and often end up connecting with organizations having lesser liquidity than the amount to be exchanged,” recalls Siciliano. Fill Station, a key post-trade monitoring platform, collects trade fill data to bridge direct connections to multiple liquidity providers as the customers are working large FX orders in the marketplace.
As a testimony, Siciliano recalls the success story of Tullett Prebon’s Chapdelaine. On being approached, “We built a scalable middle and back office solution for their newly branded FX Agency-Chapdelaine FX, within just a few weeks,” he reveals. The partnership allowed Tullett Prebon to grow from 20 to 200 clients without having to hire additional middle, back-office or IT resources.
To support mobile platforms, Elysium uniquely designs TradePunch, a touch screen application with secure trade entry options and touch screen entry tools for rapid and accurate entry of trade details. Over and above offering software solutions, Elysium houses dedicated client service teams geared up for assistance around the clock.
Elysium has been successfully assisting FX and investment management firms in attaining the goal of bringing profits to their investors. In the days to come, the company is planning for major improvements in client self-service tools, additional GUI-rich functionality, MiFID II reporting modules, enhanced cloud-security capabilities and envisions to enter the block-chain world.