The UK's Alliance & Leicester has selected Summit Systems to consolidate front and back office trading and support systems in its group treasury subsidiary.
A two-phase project to rollout Summit for 45 users is to begin this month, with derivatives functionality earmarked first. The Summit platform will replace and supercede two existing front and back-office systems used for derivatives, FX, MM and capital market instruments.
The new system will be used by the bank to manage internal treasury business - including processing for A&L subsidiary Girobank - and trading activities in connection with interbank and corporate clients.
For implementation A&L has opted to take advantage of Summit's multiple operating system and database engine options, choosing the Windows NT platform for front-end applications and selecting the Oracle database engine running under Sun Solaris (Unix).