City Networks as joined forces with Trema to offer what the two firms are calling CityNet Confirmation Matching (TRAM).
The City Networks Confirmation Matching module, which is already being used by banks, is being linked to Finance KIT, Trema’s treasury, risk, cash and asset management solution, to perform 3-way matching of confirmations as well as managing CLS trades. A standard interface will automate a two-way connection between the two systems.
“We are pleased to work together with City Networks on this new venture, the goal being to complement Finance KIT with the market leading Confirmation Matching functionality,” says Kari Mkel, Chief Operating Officer at Trema. “City Networks and Trema offer complementary software solutions to the same sectors of the financial services industry; namely, banking, asset management, corporate treasury and governmental institutions so this move is a logical step forward enabling our customers to benefit from extended functionality.”
Costa Christodoulou, CEO of City Networks added: “Trema is a premier software organisation with a reputation for product quality and innovation. This step is in line with our company strategy to partner with the industry’s key players as an avenue to new customers. City Networks and Trema share many values, not least of which is a dedication to customer satisfaction.”