28 January 2005 - The Housing Bank for Trade & Finance, Amman, have gone live with Eurobase’s real-time front office treasury management solution Siena. The system is being used to support the Bank’s multi-product trading operation covering FX, Money Market and Derivatives.
Full straight through processing is facilitated using Siena’s advanced generic import and export mechanisms. Seamless integration with the Bank’s electronic trading systems and integration with the Bank’s existing back office system are increasing transaction processing efficiency, reducing the costs associated with trade processing and improving dealer productivity.
Positional, exposure, cashflow, risk and credit displays provide the Bank with instantaneous information. This enables the front office to focus more on revenue generation across the different asset classes and to make trade administration and processing more efficient.
Omar Malhas, Executive Manager at Housing Bank, commented, "We are delighted that the Eurobase Siena treasury system is now live and underpinning our trading operation in Amman. The system will provide a robust solution to many of the banks in Jordan and we look forward to helping Eurobase expand its customer base in the region."
Siena is an XML-enabled application facilitating easier connectivity to existing systems and significantly reducing implementation time and cost. Siena was implemented at the Bank in three months.
David Mallinder, Head of Business Development & Sales at Eurobase Banking Solutions, commented, "We have developed Siena at significant cost to handle the real-time business needs of the front office and placed a strong emphasis on improving productivity through ease of use and high-performing trade processing. Siena offers the market unparalleled functionality across all key treasury products and is very highly regarded both by front office users and system support teams. We are delighted that the Housing Bank for Trade & Finance selected Siena."
Siena provides best-of-breed front office deal capture and trading support for a wide array of financial instruments and is fully Web enabled. The system has been specifically designed to handle very high trade throughput as a result of ever increasing e-trading volumes providing automatic multi-source deal capture as well as real-time system updates irrespective of trade origin.