Treasury Management System is Launched

Version 4.2 of IT/2 has been launched bringing more significant enhancements to SimCorp’s corporate treasury management system. For international organisations, the new global treasury features will be of particular interest. These include the ability to support systems around the clock and across multiple time zones.Other developments include new deal types and enhancements to Internet integration, workbenches and the system’s support of accounting standards FAS 133, IAS 39 and FRS 13.

The ability to support systems around the clock and across multiple time zones enhances the system’s comprehensive global treasury functionality that was introduced in the previous release of IT/2 - version 4.1.

The new features enable 24 hour operation of the system around the globe with the ability to update positions and manage risk in real-time. It also includes local time stamping of deals with the display being based on the time zone of the regional treasury rather than the central database. This enables the group treasury department to have a comprehensive overview of a company’s corporate treasury position as a whole.

Three new deal types that have been added in IT/2 release 4.2 are: commodities, guarantees and letters of credit. The fully featured, commodities trading module enables the system to handle a complete range of commodities in different deal types, including spot, forward, swap and lease. Using the system’s straight through processing capability, these are handled across the full functionality of the system to record, settle,report and account. The letter of credit and guarantees modules add these deal types to the system to
support both inter-company and external transactions. Again, these are supported across the system’s full functionality to record, settle, report and automatically generate account postings.

The system’s support of accounting standards FAS 133, IAS 39 and FRS 13 has also been enhanced.

Whilst IT/2 already supported these accounting standards, the new release of IT/2 further develops this module’s functionality in line with developments in these accounting standards, keeping IT/2 ahead of other systems in the market. The additional flexibility enables the user to monitor the effectiveness of a hedge strategy, with more information recorded and the ability to provide detailed documentation as specified in this accounting standard.

An Internet integration facility has been added to IT/2 to support the seamless transfer of deal information from the FX dealing services of third parties such as Atriax, Currenex and FXall.It enables deals to be easily and securely imported from web-based systems, including those in an XML format, and automatically recorded using the systems straight through processing facility. It facilitates a seamless operation, requiring no re-keying of data with its associated potential human errors.

Workbenches, which are the system’s user interfaces that greatly simplify information management, were fully introduced into IT/2 with release 4.0. This facility has been continually extended and now includes a new limits workbench that enables counter party limits to be effectively monitored and maintained.

"This new release is part of our routine development and maintenance of IT/2," says Daniel Andres, sales and marketing director for IT/2 (EMEA), "we bring out two new releases of the system each year. Having now developed the system to include a number of market leading features, this ensures that we stay ahead of the field." Release 4.2 includes approximately 120 enhancements to the system, some more significant than others.

Other areas that have been enhanced include cash management, nominal ledger, back office, data analysis and investment dealing.