Delta Capita Allies with GBST to Implement Financial Transaction Tax Solution

Delta Capita, a global managed services, solutions, and consulting provider, has announced that it has allies with GBST, a technology solutions provider for the world's leading capital markets and wealth management organisations, following the launch of its financial transaction tax solution, Syn~FTT. GBST will help support the implementation of Syn~FTT across the market.

The partnership follows a critical time as the demand for financial transaction tax (FTT) solutions increases in Europe. Last week, Spain announced it is set to join France and Italy by enforcing FTT from January 2021, while an EU-wide tax is currently being considered.   

Delta Capita has experienced global investment banks and brokers trading high volumes of securities in these markets needing to address this complex challenge with more robust and automated technology solutions in order to better demonstrate compliance removing the associated manual processes. Such firms are needing to reduce operational costs in order to scale and ensure that they are collecting the right amount of tax in accordance with each country's regulations, declaring the right transactions, on time, in the right format, to the right tax authority in the most efficient way.

The partnership is part of Delta Capita's ambitious growth strategy, which will now see the technology firm expand into the post-trade managed services space.

GBST provides post-trade technology for the worlds' leading capital markets and wealth management organisations. While GBST already has a robust global foothold with Tier 1 capital market clients, Delta Capita is confident that their new strategic partnership will accelerate the growth of both companies even further.