Wall Street Systems says that Abbey National plc, Britain’s sixth largest bank, will install The Wall Street System treasury engine as its short term money markets platform. The agreement was signed on 17 March 2003.
The project is for the Short Term Markets function within Abbey National’s Treasury Services, based in its new London head office. The company has licensed several front and back office modules of The Wall Street System treasury engine as well as the Application Programming Interface (API) library. The project also includes front-office operations in Stamford, Connecticut, which will use The Wall Street System treasury engine as a satellite of the London-based implementation.
Nathan Bostock, Head of Treasury Services and Portfolio Business Unit, Abbey National, said: “Abbey National is committed to improving efficiency in all areas of its operations. The implementation of The Wall Street System within Short Term Markets is a key step towards achieving this in Treasury Services.”
Steve Middlehurst, Chief Operating Officer of Wall Street Systems, added: “This is a significant sale of The Wall Street System treasury engine for a prestigious project at a major bank. I am delighted that Abbey National has decided in favour of our solution, and all my team here is looking forward to working with Abbey National both during the implementation and for many years afterwards. We warmly welcome them as our latest client.”