London, February 25, 2002 – WestLB Panmure has gone live on OneWorld Securities FinanceTM from OM, the world’s leading provider of transaction technology to the financial services and energy industries. Execution took six weeks, including interface work by WestLB and a three-day implementation period.
"OneWorld Securities Finance is a modern, easy-to-use system that provides us with the flexibility we need to grow our business," said Patrick Fürer, Global COO of WestLB Panmure. "We were particularly pleased with the ease and speed of the implementation process. The expertise and professionalism of OM staff were commendable."
OneWorld Securities Finance replaces an older system, developed in-house by WestLB Panmure. With its modular design, OneWorld Securities Finance supports the full trading lifecycle while providing a straight through processing environment. It provides front-to-back office functionality for all types of participants in international securities finance – from the smallest direct lender through to the global custodian, broker or intermediary.
"We are pleased with our ability to successfully meet WestLB Panmure’s aggressive schedule to implement OneWorld Securities Finance, and we look forward to a close working relationship with them in the future," said Alastair Chisholm, General Manager of Settlement and Securities Finance, OM. "As the international securities lending system of choice for global financial institutions, OneWorld Securities Finance offers open architecture and unsurpassed functionality that will be advantageous to WestLB Panmure in the highly competitive securities lending marketplace."
2/WestLB Panmure Goes Live on OneWorld Securities Finance From OM
OneWorld Securities Finance consists of the Securities Lending and Repo modules. Each can operate independently or be used together for an integrated full-service system. The securities lending module is live in London, and WestLB Panmure has indicated that it is considering the repo module for its pan-European product.