17 December 2017
visit www.aciworldwide.com

Raphaels Bank signs for WallStreet Electronic Settlement Network

12 October 2010  |  2712 views  |  0 Source: Wall Street Systems

Wall Street Systems (Wallstreet), the global provider of treasury, trading and settlement solutions, today announces Raphaels Bank as the first European bank to sign up for its Electronic Settlement Network (Wallstreet ESN).

Wallstreet ESN is a post trade processing utility for the capital markets. Raphaels is part of the Lenlyn Group, which also owns International Currency Exchange (ICE), one of the largest retail currency exchange operators in the world.

Raphaels will use the full breadth of Wallstreet ESN's foreign exchange and money market functionality. The implementation of Wallstreet ESN will enable Raphaels to grow their commercial and corporate FX services business. Raphaels will benefit from increased control over trading operations, through the provision of FX Sales and Trading tools, e-trading, position management, back office, SWIFT interface, accounting and more. The primary drivers for Raphaels selecting Wallstreet ESN over competing solutions were strong functional fit, robust and secure hosting and rapid time to implementation.

Raphaels is the fifth bank to sign up to Wallstreet ESN, following successful signings with other regional banks that are looking to grow their FX businesses. The Wallstreet ESN solution will be hosted in Wallstreet's European data centre in the UK which came online this month with remote Disaster Recover from another Wallstreet data centre in Germany.

Mike Thrower, Head of Banking Sales, at Wallstreet said: "The FX and Cash markets continue to grow, with trading volumes becoming spread across a wider range of financial institutions. Our Wallstreet ESN solution allows regional banks to compete against the top players by reducing the cost burden and opening up access to a highly efficient trade processing infrastructure. Wallstreet ESN allows those mid-tier banks who are serious about the FX business, to scale up their operations quickly and efficiently using a proven hosted model."

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.ebaday.comvisit www.niceactimize.comvisit www.aciworldwide.com

Top topics

Most viewed Most shared
satelliteRipple completes XRP Lockup
10619 views comments | 3 tweets | 2 linkedin
PSD2: Laying the regulatory foundation for a new age in paymentsPSD2: Laying the regulatory foundation for...
10233 views comments | 18 tweets | 36 linkedin
Banks tap Ethereum smart contracts for MiFID II complianceBanks tap Ethereum smart contracts for MiF...
7508 views comments | 10 tweets | 10 linkedin
Banks and fintech startups join forces on blockchain-based supply chain pilotBanks and fintech startups join forces on...
7314 views comments | 19 tweets | 22 linkedin
hands typing furiouslyReshaping Customer Engagement & Da...
6730 views 0 | 4 tweets | 2 linkedin

Featured job

Find your next job