GL TRADE says a German private bank, MainFirst Bank AG, has bought its GL RIMS settlement application.
GL Trade says MainFirst selected its system because it offered a real-time transaction capture feed from the front office, automation of confirmations, including allocation processing, settlement instruction preparation and messaging to custodians, general ledger and depot / nostro position keeping.
“We looked at a number of options and concluded that GL RIMS functionality fits perfectly Brokers Business and will support future expansion into other business areas,” says Bernd Geidusch, Head of Operations for MainFirst Bank AG in Frankfurt. “The team has been impressive in their understanding and responsiveness to our requirements and their professional management of the project.”
Alex Walker, Client Services Director of GL TRADE Settlement and Back Office division, says he is delighted to work with a fast-growing and innovative bank. “Their commitment and clear specification of requirements have been core to the project,” he says. “This has been a most successful collaboration between the teams at GL TRADE Frankfurt, Mainfirst Bank AG and GL SETTLE in London.”