US Bank Corporate Trust Services has introduced an Internet reporting and processing system for commercial paper and medium-term issuing and paying agency clients.
The bank claims to be the first institution to offer complete Web-based reporting and processing for money market instrument issuers.
US Bank's Securities Processing Automated Note System Online (Spans Online) provides issuers of commercial paper, medium-term notes, and other money market instruments with balance information, transaction details and analysis tools without the issuer having to maintain special software or a dedicated computer. Issuers can access customisable reports, recieve approval of trade prior to release for settlement, export data from the system, and set varying security levels, all via the Internet. The system also features multi-currency capability and index comparisons.
Diane Thormodsgard, president of US Bank Corporate Trust Services, comments: "This flexible, user-friendly system provides anytime, anywhere access to information important to our customers."