January 10, 2001 -- CodeLab Technology Group, in partnership with Global Securities Consulting Services (GSCS), announced the spin-off of its Automated Research System into a jointly owned company called GSCS Software Solutions.

Based on CodeLab's Data Migrator technology component and developed in partnership with GSCS's Best Execution Comparison Service, the ARS is a software platform that helps investment managers examine cross-border equity transaction costs in a rigorous analytical manner and provides them with an in-house solution to TCA issues. Because the ARS approaches transaction cost analysis from a technology perspective instead of a methodology perspective, it provides investment managers with a highly customizable solution that can accommodate any number of methodologies specified by the user. The ARS provides a cost effective and highly scalable solution that assists buy side clients in meeting their fiduciary responsibility to achieve best execution and monitor commissions.

"Once again, we've shown how we can quickly and efficiently reuse our technology components to deliver highly customized and flexible systems for clients at a fraction of the cost of our competitors who rely on developing systems from soup to nuts or rely on expensive, inflexible prepackaged software as the core of their systems," said David Ritchie, CodeLab's President.