Trema, a provider of software, today announced that Deutsche Bundesbank’s foreign currency reserve management group has gone live with its central banking solution.
“Trema’s solution delivers STP across front, middle and back office for the bank, which is now fully integrated and running on a single platform,” says Trema. “Trema’s STP solution will provide the Bank with reduced operational risk as well as improved controls.”
This installation follows the recent implementation of front and middle office functionality at the Bundesbank in September 2001. “This final stage in implementation means that Deutsche Bundesbank is now live with the full capabilities of Trema’s Central Banking solution for the foreign reserve management,” says Trema. “Finalizing the solution’s implementation has also enabled the Bank to retire its existing back office system in this area.”
The Bank’s settlement requirements are now supported by Integration KIT, Trema’s ISO 15022 compliant solution for managing, formatting and routing settlement messages via SWIFT. The back office functionality further enables STP through interfaces with the Trema accounting functionality for central banks that Deutsche Bundesbank had previously implemented.
Deutsche Bundesbank already uses Trema’s Central Banking solution for the management of reserves on behalf of the European Central Bank. In September last year, the Bank extended use of Trema’s solution to include management of its own foreign currency reserves. Other central banks which use the Trema solution include Bank of Greece, Bank of Poland, South African Reserve Bank, Bank of Estonia and the European Central Bank.
Peter Griep, Head of Foreign Exchange Settlement Section, Deutsche Bundesbank, comments: “The completion of this project is a significant step for Deutsche Bundesbank. Having an STP solution means the reduction of operational risk in our foreign currency reserve management. We look forward to the efficiency that front to back office integration will bring.”
“Through ongoing research and development we are committed to continuing to address the asset management, monetary policy and foreign currency reserve requirements of central banks,” adds Terry Beadle, Director of Government Segment, Trema. “In cooperation with our central bank customers we have built a comprehensive, integrated, front to back office system for this sector. Deutsche Bundesbank’s completion of its system implementation is testament to the strength of Trema’s Central Banking solution.”