Denarius, launched earlier this year, provides banks and financial trading entities with sophisticated and flexible real-time position management, trading capabilities, risk management and reporting functionality for Bonds, Money Markets, F/X, Futures and Repo/Securities Lending. Swaps, Cost of Carry and Compliance modules are to be added in 2001.
Denarius is a multi-legal entity, multi-product and multi-currency modular system that is entirely scalable and appropriate for either small or large sized dealing desks and for multi-site organisations.
Denarius has been designed to be ready for the e-marketplace. The infrastructure was developed with built in interfaces for trading on electronic markets. When linked to a back-office or settlement system, Denarius also has the capability to achieve straight through processing.
The asset managers were looking for a new front office system for their Fixed Income Department. The FID has responsibility for assets worth over $25 billion. They looked extensively round the market, in a lengthy, thorough process that started in January 2000. Denarius was by far the best system for their needs, beating twenty-five other systems to win the mandate.
The asset managers were extremely impressed with the overall structure of Denarius and the new technology that has been used. Denarius has superior order and position management and more than provided them with their functional requirements. The understanding Anvil has of the markets has very much helped the decision-making process. The company is looking forward to working together with Anvil to add Compliance and Swaps modules to Denarius. Their traders are particularly keen on Denarius, because they can see that the position management, risk and trade capture features in Denarius will give them ultimate control over their trading activities.
Initially Denarius will be installed in two sites - the head office in Scandinavia and also a New York branch, with the possibility of expansion to the London and Tokyo offices.
Joe Nicholson, Managing Director at Anvil commented, “We are delighted this company have chosen Denarius as their new front office system. We have followed the same high standards and innovation to design Denarius that was applied to ARTS, the most popular third party global front-office repo system. Denarius is a trading system that is technologically -advanced, quick, flexible and easy to use.”