Accenture and Broadridge Financial Solutions have announced the launch of Accenture Post-Trade Processing.

The system provides post-trade processing and technology services for settlement, books and records, asset servicing, operational management and control.

Accenture said the system, which is aimed at banks operating in Europe and Asia-Pacific, would reduce post-trade costs and allow financial institutions to adapt to new regulations and technology and named Societe Generale Corporate & Investment Banking as its first client.

Christophe Leblanc, chief operating officer at Societe Generale Corporate & Investment Banking, said: “Societe Generale Corporate & Investment Banking and Accenture share the same vision of what could be the future model for securities processing among investment banks: industrializing some services by mutualizing processing activities and costs across multiple institutions.

“We are happy to be the first client of Accenture Post-Trade Processing, a pioneering solution that sets a new industry standard for efficiency in securities post-trade processing, and which will enable us to deliver top quality services to our clients.”

Societe Generale said it would use the system to optimise and manage back-office securities processing, while a number of Societe Generale employees would join Accenture.