Toronto, ON, Canada – October 15, 2012: Portfolio+ Inc. is pleased to announce that it will be releasing functionality for the CANNEX / Portfolio Plus Interface that will facilitate the same day net settlement of funds related to GIC purchases, maturities, redemptions as well as interest and commission payments.
"We've been working with CDS (Clearing and Depository Services) and Portfolio+ Inc., for the past year, to develop an efficient funds settlement process for orders and other GIC events processed through CANNEX" said Alex Melvin, President of CANNEX. "We expect this Portfolio+ functionality to be available for testing in early November."
Portfolio+ Inc. has been working with CANNEX and GIC / term deposit issuers since 1996 to continually improve the processing and administration of deposit products.
"Portfolio Plus and CANNEX enable our customers to raise millions of dollars of deposits with the press of a button," said G. Robert Leeming, President of Portfolio+ Inc. "This GIC funds settlement functionality will ensure the utmost accuracy and efficiency in the settlement process."
CANNEX Financial Exchanges Limited is a privately held Canadian company that has provided data and information services to the financial services industries in Canada since 1983 and the United States since 1996.
CANNEX is an independent third party and is not licensed to sell financial products. None of its shareholders, directors or employees are licensed to sell financial products.
No financial institution or broker/agent organization owns or controls any shares of CANNEX.
Portfolio+ Inc. connects financial institutions with customers and partners using innovative technologies. Its software solutions and open banking technology are used by financial institutions in Canada, Ireland, and the UK. With its powerful +Open Banking Platform and fully documented APIs, Portfolio+ has the power to connect banks, credit unions, and financial institutions with an evolving ecosystem of financial services technology that is putting everyday customers in control of their financial data.
Located in the Greater Toronto Area (GTA), Portfolio+ is used by 6 of the 7 largest financial institutions in Canada and is a part of Volaris Group Inc.