Having enjoyed a successful 2006, which included the acquisition of treasury and cash management specialist Trema, Wall Street Systems also announced its aggressive growth plans for 2007, including a major recruitment drive, the relocation of both its USA and European headquarters, and significant investment in research and development.
With global, regional and local banks being a priority target for new business for the company this year, the company has streamlined and strengthened its solutions for financial institutions, with Wallstreet Suite, Wallstreet BackOffice and Wallstreet FX.
âBank consolidation, market commoditization and regulatory demands are leading many financial institutions to re-asses their technical requirements,â said Maggie Scarborough, research manager â Banking Practice at Financial Insights. âThese changing market conditions will result in many banks significantly investing in infrastructure, so it makes sense for providers of solutions to ensure they can meet the demands of this industry. Wall Street Systems is well placed to meet these demands.â
Wallstreet Suite is the evolution of the companyâs TremaSuiteâ¢ product line and encompasses modules for trading and risk management, cash management, accounting and portfolio management. Wallstreet Suite is a proven and highly scaleable solution for financial institutions, central banks, debt management offices and global corporations.
Wall Street Systems has pledged significant investment and commitment to Wallstreet FX and Wallstreet BackOffice, which will be developed as independent product lines. Wallstreet FX, the market leader in FX trade processing, is a real-time, high volume, front to back office solution which supports the booming FX market. It is used by 21 of the worldâs largest banks to process over $1 trillion dollars in FX and money market transactions a day. Managing risk, cash and collateral, Wallstreet BackOffice centralizes and optimizes global operations across all asset classes â driving down settlement costs for global and regional banks.
Wall Street Systems will continue to maintain its leadership position in corporate treasury with Wallstreet Treasury, which is based on the TremaOneâ¢ product line. Clients will benefit further by being able to opt for the hosted ASP version of this quick-to-implement and easy-to-use corporate treasury management system.
âWe now have four leading solutions in our portfolio and these are backed by 24/7 multi-lingual support. Furthermore, 25 per cent of our revenue will be invested in research and development to ensure our products continue to deliver the quality of functionality that our clients need to compete in ever changing market conditions,â said Larry Ng, managing director â product strategy and marketing at Wall Street Systems. âBuilding on substantial growth in 2006, we plan to continue this expansion in 2007. To accommodate this anticipated growth, we have relocated our USA and European headquarters to larger, employee friendly offices in New York and London, and have also launched an active graduate recruitment program.â