Wall Street Systems (Wallstreet), the global provider of treasury, trading and settlement solutions and services, today celebrated 20 years of continuous service for UniCredit Bank Austria (Bank Austria). The bank has been using the Wallstreet FX solution including back office functionality since 1989, when it was originally introduced for FX spot and forward trading. Since then its use has been extended to include NDF's, currency options, futures, and short term money market instruments.
Through a turbulent period, which included the collapse of the iron curtain and escalating global FX trading volumes, Bank Austria has gone from processing 150 trades per day at the New York branch, to a peak daily volume of 7000+ across 10 dealing locations. Bank Austria has become one of the largest banking groups in Eastern Europe during the long partnership with Wallstreet. The partnership between Wallstreet and Bank Austria has overcome challenges such as dealing with mergers/acquisitions of the bank, conversion to the Euro and Y2K. Since installation at Bank Austria, Wallstreet FX has been implemented at 10 other sites in Eastern Europe, including Czech Republic, Romania and Hungary.
Heinz Meidlinger, Deputy CEO of UniCredit CAIB AG, said: "Wallstreet has been with us through all the events and challenges in the banking world over the past 20 years. We value Wallstreet as a sound and reliable partner."
Tony White, Managing Director of Banking Sales for Wall Street Systems, said: "Over the 20 year partnership the business needs and technological solutions have evolved. It was a time of great change for Eastern Europe and Wallstreet is delighted to have participated in providing solutions to the challenges faced by Bank Austria and banks across Eastern Europe. We look forward to a continuing relationship with the bank."
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