CMC Markets, a financial spread betting, CFD trading and FX trading company, has automated its transaction processing with SmartStream's SaaS reconciliation service, TLM OnDemand.

According to SmartStream, its TLM OnDemand offers advanced reconciliations functionality as fully managed service.

TLM OnDemand in now live at CMC Markets processing the firm’s cash transactions.

CMC Markets finance systems manager Colleen Bohm said TLM OnDemand was attractive because it introduces automated transaction processing with proven technology that will enable CMC Markets to improve efficiency and lower costs.

"Being a SaaS-based solution it has benefitted us through a rapid implementation program that has helped to minimize project start-up costs and ensured a faster time to market," Bohm said.