Information service Thomson Reuters has partnered with IT consulting firm NRI to expand the capabilities of its North American wealth management brokerage processing platform, according to a press release from Thomson Reuters.
The information firm’s BETA platform now allows automated processing of multi-market and multi-currency securities, the company says. Customers on the brokerage processing platform will be able to get straight-through processing and automated settlement, according to Thomson Reuters.
The platform will also offer updates of intra-day transaction changes in real time and more, the company says. BETA lets its customers support various clients within the platform while segregating each company’s data, according to the press release.
“The need for a well diversified portfolio continues to drive wealth managers to seek greater investment opportunities for their clients beyond U.S markets,” David Akellian, global head of wealth management for Thomson Reuters, says in the press release.
“As regulatory demands increase globally, the fully automated single-stock recording process allows firms to be more operationally efficient and transparent in managing custodianship, ultimately mitigating risk, reducing error rates, reducing costs, and freeing up resources to work on other aspects of their business.”