The Central Bank of Russia is implementing treasury and asset management software from London-based Trema to support its reserve management operations.
The vendor says its TremaSuite will initially be rolled out to 30 users in the bank's reserve management department to support foreign currency reserves, monetary and FX policies and service operations.
The bank says the TremaSuite will enable it to efficiently manage and support reserves by delivering an infrastructure that supports integration between business processes, functions and departments and says the technology will also reduce the operational risks within the current system architecture.
Trema says the browser-based application can be interfaced with dealing platforms, market data feeds, banks, ERP and payment and settlement systems and includes five management modules supporting transaction and risk, cash, commercial loan, portfolio and performance and accounting.
The contract, which was brokered by regional partners CMA and e-Stock, is Trema's first in the Russian market.