Commonwealth Bank live with eGlobalTrader; upgrades Kamakura system

Commonwealth Bank live with eGlobalTrader; upgrades Kamakura system

The Commonwealth Bank of Australia has gone live with SunGard Trading System's eGlobalTrader (eGT), a browser-based dealer distribution solution for front office deal capture of foreign exchange and money markets.

The bank has rolled eGT out across dealing rooms in Sydney, Melbourne, Brisbane, Adelaide, Perth, Auckland, Tokyo, New York and London.

The system will be used for pricing, capturing and processing foreign exchange transactions including spot, forward, swaps, FX extension and pre-deliveries and multi-currency money markets.

Geoff Kelly, general manager of business systems at the bank's institutional and business services division, says the software will deliver productivity and risk management improvements for dealers: "eGT automates the creation of covering trades to distribute all FX and interest rate risk positions to local and remote dealing locations."

Kelly adds that eGT also increases transparency of information, providing a consolidated view of all trading positions, as well as drill down to individual transactions.

Commonwealth Bank has also installed Kamakura's complete enterprise risk suite, adding credit risk, market risk and asset and liability management simulation software to the vendor's risk manager transfer pricing module KRM-tp, which was purchased last year.

Steven Carritt, general manager, asset and liability management in group treasury at the bank, says over 16 million transactions are processed daily through the transfer pricing system.

"The transfer price rates from KRM go straight into the group data warehouse and are used for the key calculations in measuring all forms of internal profitability whether it is for a business unit, a product or client," adds Carritt.

The Kamakura risk manager is operated by the bank's technology partner EDS Australia.

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