Through the financial services software labyrinth

Gone are the days when ‘paperwork’ literally meant working with paper with developments in the form of financial services software that has become a prerequisite to transact in the stock market. Blame it on government rules or tools to make you job much more easier, technology has revolutionized how financial transactions are conducted on a daily basis, and is here to stay.

For one, every broker dealer has to possess a sophisticated intraday monitoring system that will help one to keep a track of client credit and risk information on a real-time basis, and which also calculates the day trading margin under the conditions set by Reg T/ Rule 431 among the other Federal and Regulatory exchange requirements.

But this is just a drop in the well as several software systems have been put in place by companies that have spent decades in developing software (such as the previously mentioned example!) that caters to the varied needs of the financial industry.

Another example is that of collateral management software that allows its uses to view their financial information online and in real time as well. Not only is it much easier to do so because it is fully automated but it allows one to view the information for several companies and in different currencies as well.

So, one can bid goodbye to paperwork for good, it seems. And why not, it’s time to look forward…