SOURCE AWARD HIGHLIGHTS
RULE FINANCIAL INNOVATION
SOURCE, Rule Financial’s Exchange Traded Funds (ETF) client, won a major award for Technical Innovation last month 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.
