Financial Software Systems acquires Mexico's TAS

Thursday, June 16, 2011

Financial Software Systems (FSS) has acquired Mexican treasury and risk management software provider Tecnología, Asesoría, Sistemas (TAS), the former announced in a statement without disclosing a price.

TAS provides services to a range of banks and broker-dealers in Mexico and the rest of Latin America.

"The acquisition of TAS will strengthen Financial Software Systems' presence in Mexico and Latin America and further expand our product offerings," said Gerald Thurston, president of FSS.

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FSS supports foreign exchange, money market, bond, equity and derivative instruments. FSS's spectrum treasury system provides front-office, middle and back-office processing, along with internet portals and web-publishing capabilities. FSS also supplies real-time credit and collateralized trading software.

TAS's current executives - Ignacio Solórzano, Gerardo Gómez and Leopoldo Plata, - will stay at the company operating in Mexico City.