Thomas Cook has selected The Wall Street System as its front-to-back office global treasury system.
The UK-based international travel and financial services group opted for the Wall Street System from a shortlist of five suppliers. Thomas Cook is using the system to monitor all trading processes in its London, Toronto, Sydney and Asia offices, plus the Peterborough, UK headquarters.
In the front office, Thomas Cook intends to use The Wall Street System for deal entry and capture of its FX and money markets business. Middle office, or risk management modules will also be deployed to measure exposure to trading risk and check that the organisation is not breaking pre-defined trading limits. In the back office, The Wall Street System will settle and confirm each transaction.
Martin Dunstan, head of global treasury operations, Thomas Cook, says that when fully operational up to 150 treasury staff will be using the system to process and track transactions through the deal lifecycle.