April 18, 2005 - Bala Cynwyd, PA - FXpress Corporation, a leading provider of treasury risk management software, today announced that Paris-based ALSTOM, a global leader in technologically advanced products and systems for the worldâs energy and transport infrastructure, has gone live with the FIRSTâ¢ Treasury Workstation. ALSTOM joins a growing list of European clients and the relationship represents for FXpress another step toward plans for advancement into the international market.
FIRSTâ¢ is a web-based treasury management system with fully integrated functionality for foreign exchange, commodities and interest rate exposure management. The system includes integrated global exposure management capabilities, extensive accounting functionality, sophisticated auditing for Sarbanes-Oxley compliance, integrated market data, and a full list of other functionality for the front to back office processing of exposures and derivatives. More than 100 ALSTOM financial professionals all over the world will use FIRSTâ¢ to manage the risk associated with the corporationâs multi-billion dollar foreign exchange portfolio and to provide support for IAS 39 and other compliance issues.
"We selected FXpress because of our perception of the FIRSTâ¢ Treasury Workstation as having excellent functionality, user friendliness and an offering of superior product support," said William F. Schoelwer, Treasurer of U.S. Operations and Leader of ALSTOM's Derivative Accounting Working Group. "Our expectations were more than confirmed during system implementation."
"Due to the global nature of FIRSTâ¢, worldwide demand for the product has increased rapidly since its release less than a year ago,â said James Gilbert, Director of Business Development for FXpress. âWe look forward to this new relationship with ALSTOM, which represents for FXpress a significant step toward strategic global expansion."