25 Nov 2009
SOURCE, Rule Financial’s Exchange Traded Funds client, won a major award for Technical Innovation last week at the Structured Products Awards 2009
SOURCE was launched on April 20th this year and is a
groundbreaking joint venture between some of the biggest names in
international finance, including Goldman Sachs, Morgan Stanley,
Bank of America Merrill Lynch, Nomura and others.
Rule contributed technical and business innovation at the
highest levels to the establishment of this revolutionary new ETF
marketplace with the creation of ETF Manager, a web-based workflow
tool for the creation and redemption of ETFs in a multi-party
trading environment.
David Field, Managing Director of Rule's Wholesale and
Investment Banking practice, commented
"SOURCE winning the Structured Products Award for
Technical Innovation is a tremendous accolade for everyone at Rule
and I congratulate Iain Futcher, Howard Dormer, Jon Cooke and the
whole team of developers and support staff who worked on making ETF
Manager the success it has been.
"The technology ushering in this new era
of ETF commerce has lowered the barrier to entry by reducing costs
and allowing the participants to grow a new generation of
structured products which can be traded in real time throughout the
day."
Rule Financial was chosen for the crucial role of
designing, building and testing the whole marketing and execution
platform for SOURCE on the basis of the company's long and
distinguished track record in the wholesale and investment banking
sector.
The combination of Rule's in-depth knowledge of the ETF
derivative marketplace and our experience of building
time-critical, high performance internet-based applications gave
SOURCE's partners the necessary confidence that their timescales
could be achieved.
