FTN Financial Capital Markets, a division of First Tennessee National Bank, has selected to use two Helix Financial Systems software products for its repo and mortgage businesses.
For its fixed income financing business, the New York-based bank dealer chose to utilize HelixRepo. This product provides customers with real-time collateral management functions, up-to-date access to inventory and transparency into counterparty risk that was previously unavailable to FTN Financial clients.
According to New York-based Helix Financial Systems, the design of HelixRepo enables users to see the exact data they need.
Other features of the product include configurable rules for security including password and user management, role segregation and audit trails. In addition, the software provider said the product has the ability to work in a variety of environments and has the efficiency to handle either small or large volumes.
Secondly, FTN Financial designated HelixMBS to automate allocation of mortgage-backed securities pools. By automating the to-be-announced pool allocation process, HelixMBS reduces fail costs and increases overall turnaround time. Plus, the tool lowers the staff workload and stress levels at cutoff time.
Other features of HelixMBS include automatic alarms to notify users of exceptions that need attention and factor feeds which ensure that the correct current face is always used.
“The Helix team worked closely with us throughout the platform implementation process to understand our business and ensure a flawless transition,” said Bill Buck, senior vice president and head of operations at FTN Financial, based in New York. “The automation capabilities and ease of managing TBA pools in HelixMBS help us perform tasks in seconds that previously used to require a manual process. Our repo traders can see all the relevant information for position management easily in one place, which helps increase productivity.”