The latest rebalance of Standard & Poor's 500 index has helped Iris Financial Systems, the trading and risk management solutions developer, process a record number of deals on its programme trading application.

The rebalance on July 19 involved around 1.6 billion share transactions on both the New York Stock Exchange and Nasdaq, which met S&P's expectations. The rebalance involved the replacement of seven non-US companies in the S&P 500 with seven US companies. This was to ensure that all of the index members were in compliance with S&P's selection criteria of being US companies.