Email Contact Phone Company Visit Website

World Headquarters Office Head Office

100 Tournament Drive Suite 300

London Office Office

1 Ropemaker Street

Singapore Office Office

100 Cecil Street #05-02 The Globe




Leigh Ann Wolfe
[email protected]
Back to all Financial Software Systems Inc. announcements

Prudential-bache Global Markets Licenses Financial Software Systems' Spectrum Treasury System

Prudential-Bache Global Markets, a unit of Prudential Financial, Inc. ("Prudential"), has licensed Financial Software Systems’ Spectrum Treasury System for use in its London and New York offices.

Prudential is one of the largest financial services firms in the world, with assets under management of approximately USD 650 billion. Prudential has operations in the United States, Asia, Europe, and Latin America. Prudential's diversified businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, investment management, and real estate services. Withover 100 years of experience in the life insurance and asset management fields, Prudential focuses on bothindividual and institutional clients.

Spectrum is a comprehensive, straight-through-processing Treasury System for managing foreign exchange, interest rate and derivatives trades. For Prudential Spectrum will handle FX spot, forward, swap, futures, options on futures, vanilla OTC option and exotic OTC option trades. Spectrum will also support Prudential'strades in a variety of money market instruments and interest rate futures.

Spectrum provides complete front-office, middle-office and back-office functionality, from deal-capture in thefront-office, through limits and margin management in the middle-office, all the way to producing general ledger accounting entries in the back-office. Prudential will utilize the nostro management functions of Spectrum, and will also use Spectrum to automatically produce SWIFT and CLS payment messages.

In addition to allowing Prudential to standardize its treasury operations on a single system built on a single database, Spectrum also offers Prudential an integrated client-management and collateralized (margin) trading module. Spectrum will provide management of client collateral, calculation of clients' marginpositions, preparation of margin calls, and management of client accounts.

Leigh Ann Wolfe, Financial Software Systems’ Director of Sales for the Americas, commented, "Financial Software Systems is very pleased to implement Spectrum for Prudential-Bache. Prudential's objective wasto obtain a highly automated, consolidated system, and Spectrum perfectly meets Prudential's requirements. By implementing Spectrum Prudential will be able to sunset a number of legacy systems that had separately provided front-office, back-office and client management functions. With Spectrum Prudential will get realtimeposition, P&L, risk management and client management information, and will completely eliminate reconciliation errors with the back-office."