STANDARD JARDINE FLEMING BANK INSTALLS FINANCIAL SOFTWARE SYSTEMS’ SPECTRUM TREASURY SYSTEM IN HONG KONG OFFICE

Standard Jardine Fleming Bank, recently formed through Standard Bank’s acquisition of Jardine Fleming Bank of Hong Kong, has installed Financial Software Systems’ Spectrum Treasury System in its Hong Kong trading center. Standard Jardine Fleming Bank will use Spectrum in its front-, middle-, and back-offices to manage all trading activity associated with foreign exchange instruments. Spectrum will process Treasury transactions from deal-capture in the front-office to general ledger accounting in the back-office.

Standard Jardine Fleming Bank’s services include securities dealing, equity margin lending, and banking services. The Bank’s Hong Kong office is an integral part of Standard Bank’s international investment banking and private client business. By putting Spectrum to use in its new acquisition, Standard Bank continues to expand its use of Spectrum across multiple locations. Standard Bank is currently using Spectrum in its London, New York, and Hong Kong locations, utilizing Spectrum’s global networking capabilities to access servers in London. This new installation will allow over 20 users across the interbank dealing, sales, and wealth desks at the Hong Kong office to input foreign exchange transactions quickly and easily.

Standard Bank acquired Jardine Fleming Bank on 3 July 2001, and established offices and began operating their merged business operations in early August. Helping to streamline this transition, Financial Software Systems installed and implemented Spectrum for full-time live site operation by November 12.
Gerald Thurston, president of Financial Software Systems, stated, "We are proud of the confidence that Standard Bank has placed in Financial Software Systems’ ability to deliver a complete global treasury system quickly and seamlessly. Standard Bank’s installation of our system on three continents is a testimony to the reliability of our products as well as the quality of our client support."

Standard Bank has implemented Spectrum on the UNIX platform running over an internal network. Financial Software Systems also offers Spectrum on a Windows 2000 platform. Spectrum users may also opt for a Sybase database for UNIX or for Windows.

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