Source:
Anvil Software today announced that Bank of America's London-based Global Funding Desk recently installed the Anvil ARTS system for repo trading of European governments and corporates as well as US products in Europe. The Anvil ARTS system was installed at Bank of America in the US in January 2003.
"Since installing Anvil ARTS for US domestic repo, we've increased our daily trade volumes in excess of 350% while cutting our costs by about 30%," said Tom Brady, head of the Global Funding Desk at Bank of America. "Anvil ARTS provides the type of functionality we need as we expand the repo trading business globally."
Anvil ARTS is a real-time front and middle office trading system for international repo and securities finance that offers sophisticated trading, position management, risk and operational functions. The system allows traders to take advantage of cross-border opportunities and technological efficiencies.