Wachovia implements Anvil Arts collateral management package
30 July 2003 | 4024 views | 0
Wachovia Corporation in North Carolina has gone live with the Anvil Arts package at its collateralised financing desk in New York.
Installation of the package started in May says Erwin Williams, senior trader at Wachovia.
"We asked Anvil to meet a very aggressive go-live date and they have succeeded," he says. "From start to finish, the entire installation has taken less than three months."
Williams says the core system provides asset-wide position management and risk management, margin monitoring, p&l and collateral management
The company also plans to install the Anvil Carry system to provide traders and back office staff with accurate cost of carry information.
Other US clients using Arts include Banc of America Securities, Barclays Capital and the Royal Bank of Canada.