Agreement marks the second Thailand-based bank to select FNX’s Sierra Treasury solution in the past 6 months
April 14, 2003 - Philadelphia, PA - FNX Limited (FNX) a leader in the delivery of technology solutions to the financial services industry, announced today that Bangkok-based Siam Commercial Bank had selected FNX’s Sierra Treasury and First Order products to support the bank’s treasury operations.
Sierra Treasury, which offers a comprehensive solution for trading, risk management, accounting, and G/L processing, handles a broad array of financial products, including FX, FX derivates, money markets, commercial paper, fixed income, commodities, and interest rate derivatives. First Order is an Internet-based order management system, designed for both institutional and retail environments, which offers a comprehensive web-based trading capability, including on-line position management and order status reporting. First Order’s modular design allows it to integrate seamlessly and effortlessly with Sierra Treasury.
Stephen Fry, global director of sales, commented: "Siam Commercial Bank is a very important client for FNX, as it continues to build upon the momentum and presence we’ve already established with other banks in the region, including Bank of Ayudhya and Bank Thai. The functionality that we’ve included in Sierra Treasury that is specific to the Thai marketplace, in conjunction with our experience in the region, will enhance the product’s appeal for other banks and corporate treasury groups across the country. The recent opening of our Bangkok-based support office will help ensure that all of our clients, both in Thailand and across Southeast Asia, are fully supported."
Farid Naib, founder and CEO of FNX, commented on the client win: "I’m very pleased that we are able to add this premier financial institution to our growing list of clients in this important region." He added, "I view the bank’s decision to deliver Sierra Treasury and First Order to more than 100 users across their organization as a solid affirmation of our offerings’ breadth and depth. Siam Commercial Bank can draw upon Sierra Treasury’s STP capabilities to bring valuable operational advantages to bear: it offers a single solution for front to back office processing for a variety of financial products across an unlimited number of offices. Additionally, the decision to deploy the language configurable First Order in conjunction with Sierra Treasury will enhance the capabilities and services that Siam Commercial Bank can offer to its clients, such as the consolidation of phone and Internet orders, support for margin trading with a variety of collateral sources, delivery of real-time market information, and the facilitation of multiple order routing mechanisms."
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