What is the GEOS?
The Global Entity Online System, more commonly known as the GEOS, is an online banking system developed by the Vienna, Austria based Software Daten Service. It is used for the processing and management of securities, and has been in operation since 1998.
Where have you heard about the GEOS?
The Global Entity Online System is used by a number of high profile companies throughout Europe – current customers include Bank Austria, Raiffeisen Österreich, HSBC Trinkaus, the Romanian UniCredit Țiriac Bank, and Banque et Caisse d'Épargne de l'État, based in Luxembourg. In addition to this, GEOS also covers around 80% of Austria’s securities market.
What you need to know about the GEOS.
GEOS is used with a focus on Straight Through Processing, also known as STP. Financial companies use STP to speed up the transaction process by allowing electronically entered information to be transferred from one party to another during the settlement process, eliminating the need to manually enter the same information multiple times.
GEOS covers position keeping, order management and management of financial instruments across a full range of securities transactions. This can include anything from corporate actions processing for dividend payments to clearing, settlement and securities orders.
Find out more about the GEOS.
To better understand the Global Entity Online System, it’s useful to also read about Straight Through Processing.