Wall Street Systems, a provider of treasury and capital markets software, will present the latest enhancements to its treasury engine at Sibos this week. The new functionality has been designed to help financial institutions take advantage of new regulatory requirements and initiatives, such as Basle II and Continuous Linked Settlement (CLS), and achieve higher levels of STP. Wall Street Systems will be exhibiting on stand H268.
At the show Wall Street Systems will present the latest back-office enhancements to The Wall Street System treasury engine. The latest functionality includes: continued support of SWIFT messaging in accordance with ISO 15022; new work allocation functionality to support even more products and currencies; a workflow monitor, designed to give a high-level view of the operations process and quickly alert management to potential risk points; and bulk processing tools to process multiple settlements simultaneously, thereby vastly improving deal processing times.
Speaking about the recent enhancements to The Wall Street System treasury engine, Mike Thrower, director of marketing, Wall Street Systems, explained: “The current market focus on regulatory requirements – such as Basle II, aimed at driving down operational risk – is forcing significant processing changes. With our extensive industry experience, Wall Street Systems is well positioned to provide customers with the latest technological developments needed to achieve increased levels of STP, while simultaneously maintaining high levels of control and transparency.”
Wall Street Systems will also be previewing the most recent enhancements to its CLS functionality. Around 25% of CLS members, including The Royal Bank of Scotland (RBS) and Banco Bilbao Vizcaya Argentaria (BBVA), are using The Wall Street System treasury engine to implement support functionality for CLS. Wall Street Systems has recently extended its CLS solution to include third-party functionality.
Speaking about the recent CLS go-live, Joe Guerrero, CLS product manager, Wall Street Systems, comments: “With CLS officially live in the Controlled Unscripted Live Phase (CULP), the onus is now on members to provide third-party services to non-CLS members. Our third-party solution provides banks with the tools to control, monitor, settle and fund third-party CLS positions. Through a web connection, third-party clients are able to access their positions and all their CLS-related information from The Wall Street System treasury engine.”
In addition, Wall Street Systems will introduce Full Spectrum Processing (FSP). FSP provides a superior level of seamless integration, unifying business information throughout the enterprise by using a single, powerful, scalable database which can transform the global enterprise into a single virtual office. This gives financial institutions the flexibility to adapt to new markets and regulations and adjust to business growth, whether it be organic or a result of M&A activity. By providing increased transparency across the organisation, FSP enables higher levels of STP.
SOCX (Settlement & Operations Clearing eXchange) – a joint venture between Deutsche Bank and Wall Street Systems which offers operations outsourcing capabilities to investment banks and financial institutions – will also be exhibiting at Sibos 2002, on stand G240, adjacent to Wall Street Systems. “Our commitment to SOCX is an example of our on-going strategy to find innovative ways to solve some of the every day problems faced by financial institutions,” explains Thrower.
Visitors to the stand will have the opportunity to take part in a mini-golf competition. Competitors will be given a free golf-shirt on completion of the STP-themed three-hole course and the chance to enter a prize-draw for a Concord watch. Wall Street Systems will also be hosting a drinks reception on its stand at 3pm on Wednesday 2nd October.