South Africa's Standard Bank has implemented UK-based RCP Consultants' Deal Web solution to enable back office staff in Johannesburg to view all FX tickets and conversations from traders in London.
The bank recently moved its FX back office operations from London to Johannesburg. Deal Web provides Web access to all tickets and dealing conversations electronically from Standard Bank's Reuters and EBS trading systems.
The implementation has also allowed the bank to move away from time consuming paper-based printing and storage systems as all FX dealing data is stored in Deal Web and can be accessed using a browser-based interface.
RCP says the the system also provides rapid detection of out-trades.
Karen Brown, customer relationship manager, RCP, says: "Deal Web is the perfect fit for international FX back office operations. It uses Web-based technology for the benefit of its users and the IT staff who support it."