DealHub (Option Computers Ltd) announced today that Abu Dhabi based First Gulf Bank (FGB), one of the major leading banks in the UAE, is now using a bespoke treasury management solution from DealHub.
The system allows the bank to monitor activity, positions and profit and loss (P&L) across all trading channels in real time.
Chris Wilmot, Group Head of Treasury & Global Markets at First Gulf Bank, comments: "As our Global Financial Markets trading business expands, it's critical that we're able to continue to manage our operations efficiently, particularly as e-trading volumes increase. After evaluating a number of potential providers, we chose DealHub's treasury management solution for two key reasons. Firstly, through our longstanding relationship with DealHub, we knew we could rely on them to deliver. Secondly, their ability to customise the solution to our specific workflows and requirements was critical. The system has been live now for several weeks and we're benefiting from real-time insight into trade volumes, counterparty exposure and P&L. The system is a vital foundation for the continued expansion of our e-trading business."
The treasury management solution went live at FGB in early December and builds on existing DealHub infrastructure at FGB, which consolidates post trade feeds from all FX trading platforms into a single STP feed for downstream integration. The new solution sits ahead of the bank's existing risk system and provides FGB traders and management with highly customised overview and workflow tools. A flexible dashboard allows them to see positions by trader, currency, venue, or counterparty, and a consolidated blotter is easy to filter and query, pinpointing the exact information required to manage trading activity and profits in real time. Flexible workflow tools streamline or automate complex tasks, including manual trade capture, revaluations, position transfers, end of day rolls and multi-instrument risk reporting.
"The successful roll out of our treasury management solution at FGB demonstrates the huge value that DealHub's integrated post trade services can offer," comments Chris Leaver, COO at DealHub. "Building on a normalised backbone of post trade connectivity, our flexible rules-based components can be tailored to specific bank requirements, providing custom position and P&L management tools, while automating complex trade processing tasks, all in a fraction of the time and effort required to customise and deploy a traditional risk system."
Combining the widest range of market connectivity, with flexible trade processing and overview modules, DealHub's comprehensive post trade solutions are used by a range of financial markets customers, including the majority of the world's largest banks, to consolidate trades from multiple venues and counterparties for overview, processing and onward delivery into risk and back office systems.