Aleri, the vector-based enterprise software and banking solutions provider, has declared itself ready-to-go in CLS services. The company provides a one stop shop for banks in addressing the market processing requirements and liquidity management issues which will result once inter-bank transactions are accelerated through CLS. The high-speed vector-based technology developed by Aleri enables users to make decisions when interrogating and reporting on all their data in real time.
As the next step, the company now awaits the final version of MTS (Member Testing Services) to enable users such as ABN Amro, Barclays, Banco Intesa and Standard Chartered to proceed with their individual systems. This is expected by the end of May.
Aleri’s CLS capabilities automate the management of CLS clearing for settlement of members’ own trades, and for user members and third parties offered correspondent clearing facilities by the settlement member. It emulates the processes of CLSB used to determine acceptable trades, maintain positions (sub-accounts) and manage funding of short positions and timely disbursement of surplus balances. However, unlike CLS Bank, this application supports detail for all three classes of counterparty who can make use of CLS clearing.
Says Colin Osborne, chief marketing officer of Aleri: “The merger of mpct into Aleri gives banks access to broader IT solutions. In addition to liquidity management, we help banks deal with the statistical aspects of the forthcoming capital adequacy regulations. Initiatives such as CLS are putting increasing pressure on banks to manage and control their cash flows with greater precision. The real-time performance and flexibility of Aleri’s rules-based vector- processing infrastructure ideally suit these emerging requirements, and make us a strategic partner for the financial services industry.”