Wall Street Systems Enhances RZB’s CLS Solution

Wall Street Systems, Inc., a provider of global treasury and capital markets solutions and services, has gone live with its enhanced CLS 3rd Party Module with Raiffeisen Zentralbank (RZB) in Singapore. The solution enables the Raiffeisen Service Center (RSC), RZB's

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Wall Street Systems, Inc., a provider of global treasury and capital markets solutions and services, has gone live with its enhanced CLS 3rd Party Module with Raiffeisen Zentralbank (RZB) in Singapore.

The solution enables the Raiffeisen Service Center (RSC), RZB’s back office outsourcing entity located in Vienna, to provide a complete CLS solution for its Singapore branch, reducing operational and credit risk for the bank.

Wall Street Systems and RZB have worked closely to provide an enhancement to Wall Street Systems’ CLS 3rd Party Module functionality to enable the filtering of CLS transactions to the central back office of the RSC which in turn automatically confirms all CLS-related transactions to the bank’s third party provider, UBS. RZB has been live as a CLS third party user with UBS since January 2005. Using The Wall Street System treasury engine for CLS 3rd parties, RZB can now manage the CLS operational flow for three of its entities – Vienna, London and Singapore – without the need to increase operational overheads; reducing costs while increasing the business opportunities for the RSC. Due to the flexibility and scalability of the solution, RZB plans to deploy the CLS 3rd Party Module to its branches and network banks.

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