C. Hoare & Co live with Financial Objects’ activebank Treasury for STP
20 October 2004 | 1045 views | 0
Source: Financial Objects
Financial Objects, a leading supplier of advanced technology banking software and services, has announced that C.Hoare & Co. have gone live using activebank Treasury’s straight through processing (STP) capability.
C Hoare & Co started using activebank Treasury in their trading room in July 2001 after a short implementation period. They have now moved forward from this initial position and earlier this quarter went live with the STP capability.
This allows them with minimal back office intervention to pass deals done in the trading room directly through the activebank Messaging functionality to their Swift device.
The functionality within activebank ensures that whatever the deal type traded, the correct information is presented to Swift in their required format and the correct messages are produced.
The activebank Treasury application is an advanced front to back office solution used by traders for deal capture, pricing, position monitoring, portfolio management and profitability reporting.
The application supports a wide range of treasury instruments and delivers high trade capacities, streamlined transaction processes and reliable and cost effective risk management within a modern technological framework.
Peter Watts, Director responsible for the ActiveBank division, Financial Objects, said: "STP capability for most banks is ultimately where they want to be but this is not always achievable given complex infrastructures and legacy applications. We are really pleased that C Hoare & Co have achieved this using activebank Treasury and activebank Messaging and Payments modules."
Lawrie Houghton, Deputy Head of IT at C. Hoare & Co comments: "We’ve worked with Financial Objects to improve our processes within our Treasury and Back Office functions. Implementing STP has significantly reduced the manual intervention and potential for human error".