Businesses will be able to better and more easily manage their shareholder transaction records and activities thanks to the launch of a new registry system by software developers Nova Ltd.

Quantum, a comprehensive shareholder registry system developed in conjunction with The Argus Group, will be officially unveiled by Nova at a product demonstration, client testimonial and discussion held at the Argus Group Building at 14 Wesley St., Hamilton this week.

The new solution, which was designed and developed in Bermuda, is aimed at addressing the major issues publicly traded companies face related to searching, processing and records management of detailed shareholder transactions.

The product has been used by Argus since June 2009 and has already enabled significant workflow efficiencies and enhanced information control needed to comply with the Bermuda Stock Exchange (BSX) regulations and Bermuda's Companies Act.

Sandra De Silva, managing director of Nova, said the concept for Quantum, which has been one year in the development, arose when Argus approached her company for a solution to meet their shareholder registry needs.

"Argus had some legacy solutions that were not quite meeting their needs 100 percent, so they reached out to see if there were any solutions they could purchase off the shelf and there was not really anything of the kind in the Bermuda market," she said.

"Nova was approached to develop something that was customised for them, but we thought why don't we take some other requirements and develop a product that can be sold to all companies that may be interested in a similar thing?"

Ms De Silva said that Quantum included a number of key features benefits from the ability to manage shareholdings and shareholders transactions, dividends and dividend processing and payment through its integration with the Island's banks, and producing and managing cheques and bank drafts and providing a payment gateway to the banks and brokers.

Users could also take advantage of certificate inventory maintenance and control, management of non-certificate shareholdings traded through the BSX, stock options and restricted stock options functionality and stock split functions, she said.

Other features range from the ability to maintain security registers for public corporations, validate and transfer ownership of securities, manage issued and outstanding securities, replace lost and exchange certificates under estate transmission, issue and control new securities and print management for cheques and labels, as well as the use of advanced search features and flexible reporting.

Ms De Silva said the system was available in two versions - professional (for companies to manage their own shareholdings) and enterprise (for agents who manage multiple companies).

She said the real beauty of the new system was the integration of all parts as one whole and an automation which provided for a simple, easy-to-use, compliant and transparent solution. It is also unique in its ability to differentiate between different nationalities of shareholder and provide auditing and statistics behind ownerships.

Ms De Silva said that Nova planned to introduce a dividend reinvestment programme as an add-on to the product in the next couple of months and her team was currently working on a component which provided reconciliation with companies' accounting departments. She said the company was also in talks with the BSX over the integration of Quantum with its system, while the intention is to make the product applicable to other jurisdictions for use in international markets.

"We are in contact with brokers to talk about how we can leverage some the functionality that they are looking for and streamline their processes and provide data to Quantum or through the BSX that can make things easier for everyone concerned," she said.

Ms De Silva said that online customer support and training would be on hand as well as video demonstrations available on the company website.

She added that the feedback on Quantum had been very positive so far, with a number of BSX-listed companies, members of the financial services community and Government and other interested parties expected to attend the product demonstration.

The launch event will take place tomorrow, between 9.30 a.m. and 11 a.m.

To book a place or for more information contact 203-6682, email info@nova.bm or visit the website at http://www.nova.bm