San Francisco, Calif. — Exigen Group today announced it will create a new Capital Markets Industry Solutions Group. The move is a direct response to the growing acceptance of Exigen's cost reduction solutions within this important segment of the financial services industry. The principals creating the core of the new group were executives at a consulting company which provided technology and expertise to bank consortiums including BondsInAsia, and top financial institutions such as JP Morgan Chase, Freddie Mac, and the Industrial Bank of Japan.
The Capital Markets Group will focus on lowering the total cost of service delivery operations within this transaction intensive industry. By streamlining and automating various functions – such as trade execution, trade processing, research, and compliance -- the new group will optimize securities processing with solutions that eliminate processing cost leaks and drive greater efficiencies. Exigen Group has worked with some of the world's leading financial services firms to automate and streamline processes, and to outsource support processes. The Company recently announced an agreement with Prudential Securities to outsource maintenance and on-going development of their cash management application, and it has worked with broker/dealers implementing paperless automated systems that are fully compliant with both SEC and NASD regulations.
"The new team's past experience building trading operations for companies such as Thomson Financial and BondsInAsia adds to our understanding of where the inefficiencies in this industry lie," said Greg Shenkman, CEO of Exigen Group. "Their technology and outsourcing experience will become critical as we expand our operations and cost reduction solutions to companies that build, operate and maintain elaborate trading networks."
"The Capital Markets industry is operating under significant excess capacity," stated Richard Rosenberg, former chairman and chief executive officer of BankAmerica Corporation. "This excess capacity must either be turned into revenues, or costs must be contained through greater efficiencies and focus on core competencies. The value Exigen brings to this critical business situation is in identifying, enabling and executing these strategies with their methodology and enabling technology."
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