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CANNEX Interface Software

Software interface for GIC trading automation on the CANNEX financial network.

The CANNEX interface for nominee name and client name business.

$40 billion dollars worth of GICs and term deposits are traded over the CANNEX network every year. Over half of those issuers use Portfolio Plus from SIT. If you need to raise a sizable amount of deposits CANNEX is one of the most efficient ways we know to do it.

CANNEX Partnership with SIT

Accelerate and Simplify the Deposit Purchasing Cycle.

Portfolio Plus integrates with CANNEX, enabling you to manage each stage of the term deposit broker purchasing cycle.

Customer Inquiry.

  • Customer decides to invest in a term deposit
  • Customer contacts broker
  • Via the internet, the agent reviews the best rates available from CFN

Customer Purchase.

  • Customer works with broker to choose the appropriate rate and financial institution
  • Broker, on behalf of the customer, fills out an electronic application for the term deposit and transmits it to CFN
  • Using Portfolio Plus, the financial institution retrieves the term deposit application from CFN. Portfolio Plus then creates the customer information file (CIF) and records all investment details.
 

Confirmation & Reconciliation.

  • Portfolio Plus generates confirmations and transmits them through CFN to the appropriate broker
  • The broker downloads confirmations and forwards them to the end customer
  • Portfolio Plus prepares reconciliation documentation and transmits it to the broker through CFN
  • Broker periodically downloads data reconciliation file for follow up and archiving

Commission Payments.

  • Portfolio Plus prepares interest payments, principal payments, and commission payments through preauthorized debits or cheques
 

Questions?    We have answers.

Contact us.

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Monitoring & Reporting



This page was created or refreshed on September 14, 2017 @ 12:44:57
by Strategic Information Technology (SIT) Ltd., Stouffville, Ontario, Canada
You're here to learn about: CANNEX Interface Nominee Name Client Name