FIRST is a fully integrated online system for managing debt & investment, foreign exchange and commodity exposure. The debt & investment module was released in November, while the foreign exchange and commodities modules will follow in summer 2004.
FIRST's complete debt and investment risk management system allows corporates to audit every aspect of interest-rate-based exposure. FIRST offers complete front to back office functionality for both net investors and borrowers. The system captures all aspects of treasury operation, including deal capture, pricing, event management, cash flow forecasting, fee amortization, interest accruals, confirmations, accounting entries, and complete FAS 133 calculations.
FIRST, available as a complete ASP solution, represents the next step in press' development into a complete, integrated solution with Web-based modules to handle every aspect of treasury management.
Coors, which already uses FXpress solutions to manage its foreign exchange and commodities risk, will use FIRST to manage its long- and short-term debt portfolio and inter-company loan program.
"This installation of FIRST represents an important milestone in FXpress' development as we move toward becoming a key player in the Web-based treasury management system market," said Jim Gilbert, Director of Business Development for FXpress. "We are pleased to share this achievement with Coors, a valued customer of FXpress."