SSS makes second stockbroking sale

Following its venture into stockbroking software earlier this year, Scientific Software and Systems has landed First New Zealand Capital, the country's largest stockbroking firm, as the second client for Securitease.

Following its venture into stockbroking software earlier this year, Scientific Software and Systems has landed First New Zealand Capital, the country’s largest stockbroking firm, as the second client for Securitease.

Securitease, its dealing and settlement system, was developed with the assistance of “sponsoring broker” and first customer Direct Broking. The product was awarded NZ Stock Exchange accreditation in August.

The accreditation process admits SSS to the select band of software companies allowed to sell to brokers. A strict process of “due diligence”, lasting about six weeks, has to be negotiated and the Exchange fully satisfied as to the functionality and security of the software, before it becomes formally accredited, says SSS managing director Bill Tonkin.

The broking venture represents a departure for SSS, which has been through an extensive restructuring and realignment over the past few years. It still deals, however, in older email security lines such as MIMEsweeper as well as newer application developments.

Another notable success is the acceptance by KPMG worldwide of SSS’s Quarantine Area Manager.

This manages spam and other possibly unacceptable and irrelevant email that mail filters hive off into a quarantine space.

It places some messages, such as those containing viruses, completely off-limits, but, depending on company policies, lets recipients delve back into the quarantine area and identify mails they wish to receive.

User decisions are subject in some cases to approval from higher in the organisation. The product handles all the mechanics of such approval. KPMG has 100,000 users on the system, which has also been sold internationally to food manufacturer Heinz.

Tonkin is the first to admit that QAM is not a particularly complicated piece of software, and that, had it wanted to, KPMG probably could have developed such a utility itself at less cost.

“But they recognised that they’re an accounting firm and consultancy, and software development is not their business.”

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