Hoskyns Group Plc and the London-based software house Synergo Technology Ltd will jointly market Tarot-INS. The product interfaces with the Stock Exchange’s recently enhanced Institutional Net Settlement service which provides a direct link to the Exchange’s Talisman central settlement system. The aim of the settlement service, launched in August 1988, is to cut costs by enabling institutions to settle business with one payment into the Talisman system, instead of the several payments and deliveries that currently take place. Participants will be able either to accept bargains or reverse decisions during the account period. There is also a direct deposit facility to lodge stock directly with the Stock Exchange. Synergo Technology provides the Tarot settlement system for stockbrokers, and has developed a number of Institutional Net Settlement links. Seven of the first nine institutions using the enhanced service have chosen the Tarot-INS link. The INS service is generally regarded as a significant move towards Taurus, the proposed paperless share transfer and and registration service.
