Paramax Solutions Inc.
Paramax is a leader in the delivery of advanced clearing and settlement systems for the Canadian Debt and Equity markets.
Paramax's sole focus is to improve your clearing and settlement processes. ARROW, Paramax's main product offering, is the cornerstone on which we deliver real-time, straight-through-processing (STP) solutions. Paramax also builds custom designed STP interfaces and offers consulting services.
ARROW is a sophisticated set of end-user software tools to manage all aspects of securities clearing and settlement. ARROW greatly improves the efficiency, accuracy and throughput of your staff.
Real-time Interface Development. Paramax builds and implements real-time, STP interfaces to bridge the gap between your in-house systems and the depositories. These interfaces typically include real-time trade reporting and real-time trade matching and confirmation. Our clients experience STP rates of between 80%-90%.
Consulting: Paramax provides consulting services for clearing and depository operations.
Paramax was formed in 2002 and its principals are David Pollock and Gary Stephenson.
David's varied Information Technology experience spans more than 20 years with 17 years experience in the securities clearing and settlement business.
As a senior consultant in both the consulting and corporate sector, David has spent his career focusing on delivering timely solutions to critical processing issues across various industries. He has worked for the Central Securities Depository in Canada as well as for emerging markets around the world. As an expert in messaging interfaces for clearing and settlement in Canada, David has assisted numerous organizations in their implementation of STP initiatives.
David has an Honours degree from the Richard Ivey School of Business at The University of Western Ontario.
Gary has over 20 years experience in the securities clearing and settlement business. He has worked for Central Securities Depositories in the design of their systems as well as for the dealers, banks and custodians that use Central Securities Depositories systems. In addition to his work in Canada, Gary has experience in over thirty securities markets in Africa, Asia, Europe, the Middle East and South America. His assignments have ranged from providing strategic advice on improving existing clearing/settlement processes to the practical, hands-on work of creating entire securities markets.
Gary was the author of "Blueprint for Clearing and Settlement for Emerging Markets" that was published by the International Organization for Securities Commissions (IOSCO) as well as many other industry papers and publications.
Gary has a degree in Economics and Computer Science from the University of Toronto.