Wall Street Systems is to present new treasury engine functionality designed to help banks comply with up-and-coming regulatory requirements such as Basel II and adapt to advances in continuous linked settlement (CLS), at the Swift international banking show in Geneva next week.
The latest functionality includes: continued support of Swift messaging in accordance with ISO 15022; new work allocation functionality to support more products and currencies; a workflow monitor, designed to give a high-level view of the operations process and quickly alert management to potential risk points; and bulk processing tools to process multiple settlements simultaneously and improve deal processing times.
The vendor will also be previewing the most recent enhancements to its CLS functionality, designed for the extension of services from settlement members to third party participants. Around 25% of CLS members, including The Royal Bank of Scotland (RBS) and Banco Bilbao Vizcaya Argentaria (BBVA), are using The Wall Street System treasury engine in support of CLS.
Speaking about the recent CLS go-live, Joe Guerrero, CLS product manager, Wall Street Systems, says: "Our third-party solution provides banks with the tools to control, monitor, settle and fund third-party CLS positions. Through a web connection, third-party clients are able to access their positions and all their CLS-related information from The Wall Street System treasury engine."
In addition, Wall Street Systems will introduce Full Spectrum Processing (FSP), pitched as a single database solution for unifying business processing across the enterprise.
SOCX (Settlement & Operations Clearing eXchange) - a joint venture between Deutsche Bank and Wall Street Systems which offers operations outsourcing capabilities to investment banks and financial institutions - will also exhibit at Sibos 2002, on stand G240.