Web services outfit e-portals has announced the immediate availability of the first release of x-Treasury, its integrated trading, treasury and risk system based on the Microsoft .NET framework. The package will be publicly demonstrated for the first time at the Finextra City Technology conference and exhibition, Finexpo, in London later this month.
The launch of the product follows an 18-month investigation into the potential of new Internet-based technologies for use in the front and middle offices of international and domestic banks. It is being brought to market by a team of veteran financial technology experts, including Hal Hovland, CEO, Ian Chester, chairman, and Mario Rosi, director.
E-portals says the package operates across the front and middle offices -including the trading floor, treasury and risk management - from the smallest corporate treasury to the largest dealing room. It produces real-time risk information, conforming to new FSA, CAD 3 and Basel II regulations, as trades are entered, allowing management and trader alike to see the positions, profits and risks before a trade is committed to.
Hal Hovland, e-portals chief executive officer, comments: "X-Treasury is a pure Web application that solves long-standing treasury problems, such as global risk monitoring, at low cost and low risk – regardless of institutional size. It provides increased functionality for large institutions that currently deliver global-networked, multi-function treasury systems; whilst also opening the door for smaller institutions to provide the same range of services – a facility previously unavailable to them due to the prohibitive cost of traditional solutions."
E-portals will be demonstrating x-Treasury at Finexpo 2003 – City Technology Strategies, on the 29th January at Cabot Hall, Canary Wharf, London: www.finexpo.com