Central Bank of Trinidad and Tobago selects Trema's Finance KIT
14 October 2004 | 3932 views | 0
Central Bank of Trinidad and Tobago (CBTT) in Port of Spain is to install Trema's Finance KIT, to support its foreign reserve management operations and key business activity associated with other central banking functions.
CBTT currently manages in excess of US$2.7 billion in foreign exchange reserves, and recently concluded a review of its portfolio management processes with assistance from the World Bank.
Arising from the review of operational requirements, CBTT went to tender for a system that could automate the entire front to back office function. It also required performance and risk measures relative to benchmarks, with facilities to monitor compliance with investment guidelines.
Trema says its kit will enable CBTT to view real-time trade information throughout the trade lifecycle. Alongside reserve management, the system will support other key operations that include some aspects of monetary policy, and correspondent and payment services.
Debbie Williams, group vice president, capital markets and risk management for research house Financial Insights, comments: "The extension of packaged software to include a broader spectrum of functionality makes best practice treasury management more accessible than ever. Consolidated platforms reduce the pressure on integration, the expense of implementations and losses due to errors. This means that smaller banks can enjoy the benefits of automating their front to back office functions."