WINDSOR, Conn., Oct. 25, 2010 (GLOBE NEWSWIRE) -- SS&C Technologies (Nasdaq:SSNC), a global provider of financial services software and software-enabled services, today announced that Broker-Dealer, Mischler Financial Group, selected the Trading module of Lightning, a full-service capital markets SaaS solution.
Mischler Financial Group, founded by Walter M. Mischler, a West Point Graduate and Disabled American Veteran, is a FINRA/SEC Broker-Dealer specializing in conservative investments for institutional clients on a global basis. To optimize their business processes, Mischler needed to automate their regulatory and clearance reporting via Lightning's straight-through-processing (STP) system without growing operational infrastructure or staff. After manual processing for a number of years, Lightning will allow Mischler to trade through a single point of entry and electronically report trades to the MSRB, TRACE and clearance custodian.
"We needed a trading solution that could keep pace with our growth while satisfying our compliance requirements – and Lightning fit the bill," said Doyle Holmes, President and Chief Financial Officer, Mischler Financial Group. "We will no longer have to go back manually to make sure that everything has been entered properly because we will know the numbers are accurate."
"Lightning provides Mischler with a cost-effective, proven solution designed to reliably handle the operational and regulatory demands of their growing Broker-Dealer business," said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies Holdings, Inc. "We are delighted that SS&C's SaaS technology is helping firms like Mischler support their current businesses while providing a platform that facilitates their continued success."
About Mischler Financial Group
Mischler Financial Group is a Disabled Veteran Business Enterprise (DVBE) Broker-Dealer headquartered in Corona Del Mar, CA. Mischler provides financial services in equities, fixed income, and cash management to state and local governments, financial institutions, insurance companies, hospitals, universities, private and public pension funds.
About SS&C Technologies Holdings, Inc.
SS&C is a leader in the delivery of investment and financial management software and related services focused exclusively on the global financial services industry. Founded in 1986, SS&C has its headquarters in Windsor, Connecticut and offices around the world. 5,000 financial services organizations, from the world's largest to local financial services organizations, manage and account for their investments using SS&C's products and services. These clients in the aggregate manage over $16 trillion in assets. Additional information about SS&C (Nasdaq:SSNC) is available at (www.ssctech.com).
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