Press Release
CGA Investment Management goes live with Principia Analytic System (PAS)
Principia Partners provides CGA with a fully integrated front-to-back office solution for improved Straight-Through-Processing
New York, December 5, 2000 – Principia Partners LLC, a leading
provider of full front-to-back office systems for global capital
markets, today announced that CGA Investment Management (CGAIM),
part of the CGA Group, has successfully implemented the Principia
Analytic System for its New York office.
James Coyle, Vice President, CGAIM, states: "One of the primary goals of this implementation was to fully integrate all systems, automate processing capabilities and reduce the manual processing functions – resulting in a faster and better service for our customers. We chose PAS because of its broad product coverage and robust Straight-Through-Processing capabilities. Since migrating to PAS we have successfully automated all our front-to-back office processing operations and are now in a much better position to meet future strategic business goals."
The implementation at CGAIM reflects Principia's commitment to providing a functionally robust system that enables clients to manage their growing business requirements more effectively. Theresa Adams, one of Principia's founding partners, states: "We are naturally delighted to be working with CGAIM, a highly prestigious name. PAS will offer the advantage of securities processing automation in a cost-effective package, with full support for each individual user's needs."
CGAIM replaced numerous legacy systems with PAS. The move also highlights CGAIM's commitment to automating its trading and processing environment under a single system architecture – allowing greater control in-house with no need to outsource. PAS provides full front-to-back office integration for all CGAIM's operations.
The transition to the new PAS system has enabled CGAIM to modernize its technological platform and allowed better control for the increasing transaction volumes and processing requirements. CGAIM and Principia worked in tandem throughout the implementation process. Coyle adds: "With the support of Principia, the transition from the old systems to PAS was a well managed and successful process. The Principia consulting team was efficient in providing immediate support throughout the implementation. Principia will definitely be an important partner when assessing our future requirements."
About CGA Group
CGA Group, Ltd. is a Bermuda based holding company which owns two operating subsidiaries – Commercial Guaranty Assurance, Ltd., a Bermuda based insurance company, and CGA Investment Management, Inc., a New York based investment adviser. Commercial Guaranty Assurance, Ltd. ("CGA") is a "AAA" rated financial guaranty insurance company with approximately $231 million in claims-paying resources. CGA's primary business is financial guarantees insuring the payment of securities and other financial obligations. Commercial Guaranty Assurance, Ltd. <frame5.html CGA Investment Management, Inc. provides investment management and financial advisory services for the U.S. and international structured finance markets. CGAIM is registered as an investment adviser with the U.S. Securities and Exchange Commission. For further information, please See www.cga.bm.
About Principia Partners
Founded by a group of finance and technology professionals, Principia Partners offers a fully integrated front to back office solution for management of financial assets, liabilities and derivatives. The Principia Analytic System covers fixed-income (including ABS/MBS), FX and equity index products. The sub-ledger facilitates full compliance with both FAS 133 and IAS 39 accounting regulations. Principia's target market is composed of end-users, dealers, fund managers and other entities that require sophisticated processing capability without the desire or resources to develop internal systems. For more information about Principia, see www.principiapartners.com.
For press information contact:
Shamira Alidina
Write Image
271 Regent Street
London W1B 2BP
shamira@write-image.co.uk
Tel: + 44 (0) 20 7959 5450
Fax: + 44 (0) 20 7493 5499
Email: shamira@write-image.co.uk