SBERBANK SPO CONDUCTED USING THE PLATFORM EGAR FOCUSadmin
EGAR Technology integration solution for automation of investment activity of Sberbank of Russia, including a line of EGAR Focus products, became an essential part of the hardware and software used to support the stock exchange tranche of secondary public offering (SPO) of Sberbank shares, which was successfully held from 17 to 19 September 2012.
EGAR Focus platform solution provided performance of both technological and functional tasks that arise in the processing of orders and transactions of the exchange tranche within the secondary public offering.
EGAR Technology specialists have created new mechanisms for the collection and processing of applications, support for a new type of auction has been added and specific procedures for calculating the parameters of applications have been developed, numerous cycles of a functional and load testing of the system with the assistance of the Moscow stock exchange and third-party brockers have been conducted.
“EGAR Technology experts carried out a large amount of preparatory work that enabled the success of the procedure of the SPO exchange tranche. EGAR Focus platform adjustment for the tasks of the project was carried out in full compliance with the requirements of the bank”, – said the director of the Brocker Office of Sberbank Alexander Chumachenko.
CEO of EGAR Technology Gennady Ioffe adds: “Sberbank controls about 30% of the banking system of Russia and its importance for the Russian economy can hardly be overestimated. For more than 10 years being technological partner of Sberbank we live at the forefront of the Russian financial market and appreciate the high professional competence of its specialists, as well as the bank’s desire to use the most advanced solutions for the development of their technological base. ”
The EGAR Technology solution on EGAR Focus platform is being used in Sberbank of Russia since 2006. It is one of the key elements of the IT infrastructure of the bank that provides straight-through processing of both own and customer transactions on the stock market.
The functionality of the EGAR Focus system provides the full cycle of trade operations processing and allows receipt of applications, instant monitoring the status of accounts, the performance of applications on the largest trading floors, maintenance of positions, the calculation in real time of more than 100 financial indicators, limits control and other functions. Branch offices of Sberbank use remote workstations for work with the system, providing the staff with the whole spectrum of solutions in terms of broker service. The system also takes full account of the specific operations and internal business processes of a financial institution that arises in connection with the shares public offering by issuers.