Mitsubishi UFJ Securities International (MUSI) has implemented software from ClusterSeven to manage and control speadsheet proliferation at its London office.
The bank has initially deployed the technology for structured trade pricing in the product control department with a license to manage up to 200MB of operational spreadsheets.
Don Simpson, managing director in charge of operations and technology at MUSI, comments: "It is vital for our business to keep our spreadsheets but facilitate use in a controlled manner. We wanted to reduce the time we spent trying to manage and maintain them without locking them down or reducing their effectiveness."
The ClusterSeven technology passively monitors every nominated spreadsheet in the enterprise, and delivers a full audit trail in line with regulatory requirements.
The vendor says the bank plans to introduce the technology to other areas of the company such as risk and regulation reporting, operations and the front-office in other international locations including Japan.