Trace and Deutsche Bank launch Web settlement

CLEARING AND SETTLEMENT

LONDON -- Trace Datawise, part of UK software firm Trace Financial, has launched a Web-based data entry and settlement message tool developed in conjunction with Deutsche Bank that targets buy-side clients. The formal launch to potential clients coincided with this year’s Sibos event in Geneva held from September 30 to October 4.

The system, WebTM (Transaction Manager), is the second stage of the firm’s message processing framework (MPF), which aims to improve STP rates by accepting, process