Schwab implements Integrity treasury management suite

Schwab implements Integrity treasury management suite

Charles Schwab has implemented Integrity's software, with a built-in collateral management system, across its internal treasury operations.

The broker will initially use the money market, cash management and accounting functionality of, and plans to roll out the software to other parts of the organisation throughout 2002.

The customised collateral management system was built in response to Schwab's need to capture the contract value of its reverse repurchase agreements while also tracking the associated securities collateralising the transaction. The system - built using Microsoft COM components - allows Schwab to value, substitute, receive and deliver securities with and without an exchange of cash with the counterparty. The Integrity software was modified to capture partial settlements and to capture what-if trades to ensure that the trades would be within required exposure limits.

Carrie Dolan, treasury vice president from Schwab, says: “We have been able to eliminate much of our manual processing which will give us more time to analyse alternatives, assess performance and maximize value to the firm."

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