NEW YORK, June 24, 2013 /PRNewswire/ -- Trade Settlement Inc. --- www.trade-settlement.com -- (TSI), a leading provider of automated loan settlement technology, announced today its new generation Primary Loan Management system which boasts fast, efficient, secure and fully-electronic closings for the growing Primary Loan business.
The LSTA's statistics currently show corporations routinely borrowing amounts in excess of $5 billion from multiple lenders often to fund acquisitions. According to an industry observer, "These new primary loans are huge, complex, heavy on paperwork, and involve lots of lenders, lawyers, and banks. They all need perfect execution as fast as possible. That's why many banks will migrate to TSI's new system."
Administrative Agents will take advantage of the new Primary dashboard with its 360 view of all allocations across all lenders in the deal. Managers are presented with real-time figures for total closed today, total to date, and total unsettled which can be easily exported to Excel and emailed directly from the platform.
The new complete Primary system includes a high speed importer for getting lender lists into the system quickly and accurately, verifies available KYC (Know Your Customer) information such as Administrative Details and Tax Forms and allows rapid customization of the standard Institutional Allocation Confirmation per deal.
Pat Loret de Mola, TSI's founder and CEO, says, "Based on our decade of serving as an all-electronic settlement agent for the private loan trading market, we knew we could do better than current, mostly manual systems or other outsourcers. So we built this new, easy-to-use cloud-based capability. It is now available to all and is packaged with our follow-on secondary settlement capabilities." She said clients will be offered promotional pricing on a first come, first-served basis.
About Trade Settlement Inc.
Trade Settlement Inc. -- www.trade-settlement.com – (TSI) provides a fully automated settlement platform for the global syndicated loan markets. Since its inception in June 2000, TSI has been a pioneer in the syndicated loan space, launching the first cloud-based platform for the settlement of secondary trades and creating the first real-time data link with a widely used agent bank.
TSI offers the highest standard of security, leading-edge technology, and easy interoperability with other accounting and portfolio management systems. In addition, TSI offers first-rate customer support and professional outsource services.
For more information, contact Annette Bronkesh, Bronkesh Associates, +1-973-778-8648
SOURCE Trade Settlement Inc.