Business Control Solutions Group (BCS Group) says that Deutsche Bank has bought its the BCS ControlCentre process management platform as its central margin call management utility. The aim is to help the German bank comply with the call from ISDA (International Swaps and Derivatives Association) to its members to make margin management more efficient.
BCS Group is itself a member of ISDA and has been engaged by Deutsche Bank for a number of projects recently. Deutsche Bank initially signed a global perpetual licence contract for the BCS Operational Control Architecture in August 2005 and then an extension in March 2006 to include the implementation and delivery of BCS’s Sarbanes Oxley solutions.
“The delivery of this application represents a solution which will meet the needs of Deutsche Bank,” says Martin Preen, COO Business Control Systems. “BCS Group has a strong track record in this area having implemented similar solutions to other ISDA members, and we welcome this opportunity to strengthen our partnership with Deutsche Bank.”
Deutsche Bank is co-chairman of the ISDA Collateral Committee.