Source: Cable & Wireless
Getronics Japan, one of the leading providers of vendor independent ICT solutions and services to the business world, today announced an agreement with Cable & Wireless to support its Real Time Nostro (RTN) direct service.
The agreement will enable users of Getronics FMB for Cash Reporting solution who also subscribe to Cable & Wireless RTN, to better manage liquidity and reduce settlement risk.
Getronics Financial Message Broker (FMB) service is an integrated message platform, which handles SWIFTNet XML and can connect to settlement channels in order to automate format conversion and manage settlement messages. Users of FMB will be able to leverage not only Cable & Wireless RTN, but also local settlement networks in Japan including BOJ-Net and JBA.
Cable & Wireless RTN is an information service that aggregates nostro transactions and balance data across multiple accounts, currencies, time zones and systems, to provide a single, up-to-the-second view of a user's nostro positions. Designed to bring together all of the major banks providing nostro clearing services on a single system, Cable & Wireless RTN delivers greater visibility of cash movements globally across all types of accounts. The multi- bank, aggregated real time data helps banks minimize the risks associated with foreign currency and securities settlements, improve the management of global liquidity and enhance operational efficiency. The service can be used over SWIFTNet InterAct or an Internet browser to enable the user to obtain nostro account information in real time.
Gerard Hammarlund, head of sales, Cable & Wireless RTN, said, "The support of solution providers such as Getronics is critical if the banking community is to derive maximum value from the information made available by Cable & Wireless Real Time Nostro. The strength of Getronics in the Asian market is very important as makes the quantifiable benefits of using Cable & Wireless RTN a reality for another of the world's leading financial markets."
Hideyuki Takei, Director of Financial Solution Division, Getronics Japan commented, "The agreement with Cable & Wireless enhances the range of settlement services Getronics can offer to its customers. Getronics has been involved in the SPARCS Working Group from its early stage to help develop industry new standards to liaise between local needs and new XML technology. We are delighted that users of the combined Cable & Wireless and Getronics solution will be able to use SWIFTNet to enable them to manage liquidity more effectively and reduce their reconciliation issues."
Keiichi Imamura, Manager of Business Development Office, Getronics Japan added; "As a number of Asian currencies are already available to users of Cable & Wireless RTN, which now has over 100 currencies available on the service, users will be able to realize the benefits of reducing risk and improving operational efficiency. Additionally, as Target 2 leads to the standardization of Cash Reporting within Europe, the market need for this type of service globally is likely to increase."