20 February 2018
Visit www.avoka.com

FHLB licenses Summit system

27 January 2004  |  3380 views  |  0 FHLB licenses Summit system

Boston's Federal Home Loan Bank (FHLB) is deploying a front-to-back office trading platform from Summit Systems to manage its investment and funding portfolios and associated hedging activities.

Summit says its integrated platform will provide the bank with a real-time STP environment that includes trading, risk management and back-office processing support for a range of fixed income securities, money market instruments and interest-rate derivatives.

Kelly LaCava, vice president, IT, FHLB, says the bank will use the Summit system to consolidate multiple applications and reduce manual processes.

"The operational inefficiencies associated with operating and maintaining a number of product-specific applications is undesirable for any bank. We needed to simplify our processes and environment by standardising on a single front-to-back STP software platform," says LaCava.

FHLB says it is also working with Summit to enhance and develop FAS 133 reporting functionality.

A phased roll out of the platform will be conducted by Summit's Consulting Services Group and is planned to conclude in Q4 of 2004.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Bank of China goes live with Summit

Bank of China goes live with Summit

05 January 2004  |  4497 views  |  0 comments
Summit delivers trading system to Inter-American Development Bank

Summit delivers trading system to Inter-American Development Bank

30 October 2003  |  3274 views  |  0 comments
Summit upgrades flagship product for thin client era

Summit upgrades flagship product for thin client era

09 September 2003  |  4005 views  |  0 comments
WestLB rolls out Summit platform

WestLB rolls out Summit platform

29 August 2003  |  6800 views  |  0 comments
Summit Systems moves marketing division to UK

Summit Systems moves marketing division to UK

01 August 2003  |  3804 views  |  0 comments

Related blogs

Create a blog about this story (membership required)
Visit http://info.nice.comvisit www.nextgenbanking.co.ukvisit www.swift.com/your-needs/instant-payments

Top topics

Most viewed Most shared
Saudi central bank provides sandbox for banks to try out Ripple techSaudi central bank provides sandbox for ba...
11671 views comments | 16 tweets | 12 linkedin
ABN Amro moves escrow accounts to the blockchainABN Amro moves escrow accounts to the bloc...
9281 views comments | 15 tweets | 13 linkedin
ECB launches staunch defence of cashECB launches staunch defence of cash
9116 views 10 comments | 22 tweets | 26 linkedin
Coinbase and Visa at loggerheads over erroneous charges on customer crypto accountsCoinbase and Visa at loggerheads over erro...
7764 views comments | 13 tweets | 11 linkedin
FCA explores creation of global sandboxFCA explores creation of global sandbox
7187 views comments | 19 tweets | 18 linkedin

Featured job

Competitive
Germany, Austria or Switzerland

Find your next job