Milano, 29 February 2024 – SoftSolutions, a leading provider of auction and trading software, is proud to announce a seamless transition for its XTAuctions clients in light of the Bank of Italy’s upcoming shift to the new technology (ISYDE) platform in 2025. This major overhaul, moving from the current platform and RNI (EuroNext – previously SIA) connectivity to SWIFT, marks a significant evolution in the Italian primary auctions landscape.
SoftSolutions has been at the forefront of this transition, working in close collaboration with the Bank of Italy since 2023. Our efforts ensure that clients utilizing our award-winning XTAuctions software are fully prepared for the upcoming changes without incurring additional costs, particularly for those on our Software as a Service (SAAS) platform.
Key Benefits for XTAuctions Users:
- Industry Leadership: Adopted by over 50% of Euro Government Bond (EGB) Primary Dealers, demonstrating trusted expertise and widespread acceptance.
- Comprehensive Security Measures: Includes a full suite of security checks, both static (e.g., fat finger errors) and dynamic (e.g., grey market/internal feed spread controls), ensuring robust auction participation integrity.
- Regulatory Compliance: Ensures full history of all auctions, compliant with MiFID II mandates for internal trading data storage, facilitating regulatory adherence and transparency.
- Dedicated Support: Our clients benefit from a dedicated support team providing daily health checks each morning, enhancing platform reliability and user confidence.
- Enhanced Security and Compliance: Features such as Multi-Factor Authentication (MFA) and compliance-friendly report-keeping tools offer heightened security and regulatory compliance.
- Specialized Services: Offers Specialist Ranking Criteria KPIs for advanced analytical insights and competitive positioning.
- Cost Efficiency and Reliability: SAAS clients enjoy reduced Total Cost of Ownership (TCO) by more than 35% while benefiting from continuous system monitoring and control by our specialized auction staff, bolstering responsivity and reliability.
Furthermore, SoftSolutions remains committed to offering a broad choice of carriers, including VPN, while maintaining the highest security standards, ensuring that our clients’ Total Cost of Ownership (TCO) remains low without compromising on service quality or security.
As we move forward, SoftSolutions is dedicated to providing continuous support and updates to ensure that all XTAuctions clients experience a smooth and efficient transition to the new ISYDE platform. We stand by our commitment to excellence, innovation, and client satisfaction as we navigate this significant technological shift together.
About SoftSolutions: With over 25 years of experience in the financial technology sector, SoftSolutions specializes in providing high-quality, reliable trading and auction solutions. Our dedication to innovation, client service, and security has established us as a trusted partner to financial institutions worldwide.
For further information, please contact:
SoftSolutions Auction Sales
xtaaccount@softsolutions.it
