Bravura Solutions, the Australian wealth management technology firm, has completed the implementation of Babel, a straight through processing system, for JP Morgan Asset Management in the UK.

Babel is an STP financial messaging system which automates external linkage to a variety of markets and counterparties, using almost any message medium or format, Bravura said in a statement. It adapts to any necessary business logic, directly or via major platforms, and comprises a set of modules that manage different messages and transactions, external connectivity to particular markets and platforms, as well as specific message protocols, according to the firm.

"We needed a STP solution for our Life Funds client which also supported the ISO 20022 ViaNova message format. Our long-standing partner, Bravura, had the products and capability to support complex asset management operations, making them the perfect fit for our requirements. The implementation of Babel has extended our STP capacity in the UK and, importantly, supports ViaNova standard instructions," said Dan Watkins, head of European operations, at JP Morgan Asset Management.