LONDON â Over the last 18 months, e-portals has been researching the use of a revolutionary new Internet technology in a business sector within which it has nearly 100 years of experience, namely systems for use in the front and middle offices of international and domestic banks. This has culminated in the development of a new product that integrates the processing and support for the Trading, Treasury and Risk management areas of the banks.
x-Treasury brings together all the different aspects of the front and middle offices including the trading floor, the management of the Treasury and the Risk Management and does this for all types of organisations, from a small corporate Treasury through to the largest dealing room. It produces real-time risk information, conforming to new FSA, CAD 3 and Basel II regulations, as trades are entered, allowing management and trader alike to see the positions, profits and risks before a trade is committed to.
Over the last 20 years, systems that can create real-time information for dealers and treasury have changed the way the market behaves. The principals of e-portals contributed to this change by being responsible for the design of the first systems to be used in this way. Real-time creation of positions, cash flows, gaps and liquidity information is now expected from systems that support banks. x-Treasury takes this further and adds the new risk management requirements into this real-time regime, creating a complete picture as information is captured.
e-portals has been working with the .NET framework since it first became available as part of Microsoftâs First Wave partner programme. Unlike many other initiatives that have converted legacy applications to use some of the .NET features, x-Treasury has been designed and developed totally in the framework, maximising the benefits that can be delivered to the users of the system. No longer is there a need to develop Internet "front-ends" or "add-ons" to legacy systems â x-Treasury is totally web-based, integrating trading, treasury and risk system with every function available to anyone that has the appropriate authority and a browser, no matter where in the world they are sited.
Hal Hovland, e-portals chief executive officer, commented: "This is a huge opportunity for us to change the makeup of treasury technology by helping institutions, large and small, to harness the tremendous communication and network opportunities presented by Internet technology.
x-Treasury is a pure Web application that solves long-standing treasury problems, such as global risk monitoring, at low cost and low risk â regardless of institutional size. It provides increased functionality for large institutions that currently deliver global-networked, multi-function treasury systems; whilst also opening the door for smaller institutions to provide the same range of services â a facility previously unavailable to them due to the prohibitive cost of traditional solutions. We intend to deliver products that fulfil the long-awaited promise of combining powerful computing with Internet technology."
e-portals will be demonstrating x-Treasury at Finexpo 2003 â City Technology Strategies, on the 29th January at Cabot Hall, Canary Wharf, London.