Wall Street Systems, Inc., a provider of global treasury and capital markets solutions and services, today announced that The Dow Chemical Company has chosen Wall Street Systems to integrate its treasury operations worldwide, covering North and South America, Europe and Asia. Dow will be replacing a number of regional and local legacy treasury systems with The Wall Street System treasury engine, a single global treasury engine that optimizes management of financial risk and cash flows. The new technology will help Dow gain real-time access to its financial positions, and drive operational efficiencies.
The Dow Chemical Company, a Fortune 60 company with annual sales of $28 billion, selected The Wall Street System treasury engine for its comprehensive functionality, straight-through-processing and open technology architecture. With treasury centers in the United States, Switzerland, and Singapore, Dow was looking for a system capable of meeting the local treasury needs of subsidiaries while also providing the robust trading capability demanded by its regional treasury centers.
“Wall Street Systems is a key and enduring partner with some of the world’s most sophisticated corporate treasuries,” says Fernando Ruiz, treasurer of The Dow Chemical Company. “The Wall Street System brings us superior functionality developed both for multi-national corporations and global banks. As our businesses have become global, they require treasury strategies that can quickly evaluate risk and provide liquidity around the world when and where it’s needed. The Wall Street System will give us this capability.”
Dow will utilize a comprehensive suite of Wall Street Systems functionality including cash management, foreign exchange and FX OTC options, exchange-traded futures and options, money market, debt, interest rate derivatives, back office, accounting, FAS 133 reporting, and counter-party credit.
“The Dow Chemical Company is well-known as a leader in treasury management. We look forward to working closely with them to deploy an integrated treasury solution, and to create a tangible and substantial return on their investment,” said Steve Middlehurst, chief operating officer of Wall Street Systems. “This win, combined with the recent international treasury and cash management awards presented to our clients BP and Ford, indicate that our treasury and cash management solutions for multi-national corporations are highly regarded, and set apart from other competitors.”