Case Study:
Fax/Electronic Document Delivery

Wirefast solution provides full audit trail required for financial transactions.

Daiwa Securities SMBC Europe, a specialist underwriter and securities trading business, uses Wirefast to deliver trade confirmations for its worldwide securities transactions.

Messages sent as email from Daiwa's securities dealers through the Wirefast gateway are formatted and delivered to the counter-party by fax. As part of the service, when the delivery is successful, a confirmation is sent back to Daiwa complete with delivery details. The message is archived for up to seven years as part of the service, to help meet compliance and regulatory requirements.

In the occasional case where a message cannot be delivered, the Wirefast platform commences a message assessment to ensure that all possible routes for delivery are tried and exhausted before a non-delivery notification is sent back.

Due to the value of these trade confirmations, it is imperative that the system used for the delivery is fully resilient and any delays in confirming these trades are notified immediately. After an extensive trial, Daiwa was convinced that the Wirefast platform was capable of meeting their high service requirements.

The Wirefast solution replaced the previous system and has been implemented across territories including the UK, continental Europe and the Far East.

"We need an infrastructure which can ensure redundancy and deliver a reliable service for these business critical communications. The Wirefast platform does just that, while also providing an excellent web portal where we can track message progress and diagnose any delivery problems in real-time," explained Daiwa.