TwoFour Systems, LLC ("TwoFour") today announced that Jefferies LLC ("Jefferies") has successfully expanded its usage of TwoFour's Cash Management Software, TwoFour CM, to its London Treasury business entity.
This expansion follows a successful and collaborative implementation and adds over 100 treasury and payments processing users onto the solution. Additional expansion is planned into Jefferies' US Treasury Cashiering function later this year.
TwoFour CM provides Jefferies with intra-day, real-time aggregation of balances and cash flows across their multi-entity, multi-currency environment. In addition to the functionality already in place, the London unit is leveraging TwoFour for Netting and Cash Transfers. These features yield reduced settlement risk while increasing funding accuracy for Jefferies. The solution helps automate manual processes, provides a central location for all client or counterparty settlement instructions, and facilitates the review and management of opening and intraday bank account balances.
"TwoFour's solution has streamlined our operations and in addition to reducing ongoing costs, improves feature and functionality for our organization. We are very excited to continue expanding our usage of the solution. TwoFour's broad expertise and outstanding project management helped us expand and get to market on-time and under budget," said Mark Sahler, Managing Director, for Jefferies.
"TwoFour enthusiastically continues to support Jefferies. Our Cash Management solution is designed to provide global and enterprise-wide visibility of cash positions on a real-time basis and we are happy to provide that functionality to Jefferies. Our project team did an excellent job of collaborating with Jefferies' stakeholders and users to manage project risk and meet delivery expectations," said Chris Davis, co-Founder and Managing Director of TwoFour.