Investors Bank & Trust Company of Boston, Massachusetts, has licensed Financial Software Systems’ Spectrum Treasury System to manage all aspects of its foreign exchange business. Investors Bank & Trust Company ("Investors"), a wholly-owned subsidiary of Investors Financial Services Corporation, provides asset administration services to the financial services industry. Investors' services include global custody and multi-currency accounting, mutual fund administration, securities lending, foreign exchange dealing, and institutional transfer agency services. Investors was rated the #1 global custodian by North American Clients in the 2001 Global Investor Survey, and also won more awards than any other global custodian. Investors is a dealer in over 70 currencies.
Spectrum is a comprehensive risk management and transaction processing system that covers a wide variety of foreign exchange and interest rate products. Spectrum provides straight-through-processing, from front-office deal capture to the generation of general ledger accounting entries in the back-office. Investors has licensed Spectrum to manage its trading activities in FX spot & forward contracts, FX swaps, exchange-traded FX options, exotic FX options, and interest rate swaps. Spectrum will provide Investors with P&L calculations, real time position keeping, monitoring of counterparty limits, and full back-office processing capabilities, including confirmations, payments, and accounting.
Investors selected Spectrum based not only upon Spectrum's comprehensive functionality and ease of use, but also upon Financial Software Systems' experience in implementing and integrating complex Treasury solutions. Spectrum will be installed on a Windows 2000 platform utilizing Microsoft's SQL 2000 database server. Spectrum is also available on a UNIX platform utilizing Sybase’s SQL Database Server.
Financial Software Systems is headquartered in Willow Grove, Pennsylvania, with sales and support offices in London and Singapore. Financial Software Systems produces foreign exchange and interest rate risk management software for banks, fund managers, and corporations. Financial Software Systems has recently collaborated with Cognotec Limited and with PFS Trader Tools to offer an automated web-dealing and order management capability to the financial marketplace. Spectrum has been tightly integrated with Cognotec's AutoDeal LITE system and PFS Trader Tools' LimitSentry system.