Standard Bank Asia signs up Spectrum

Standard Bank Asia is to use Pennsylvania-based foreign exchange and interest rate risk management software provider Financial Software Systems’ Spectrum Treasury System in its Hong Kong trading centre to manage money market instruments, interest rate derivatives and bonds.

The bank, formerly known as Standard Jardine Fleming Bank, had already adopted Spectrum to manage all of its foreign exchange trading activity at the end of last year, but following the addition of a range of interest rate instruments, it has now fully integrated all of its treasury products into one system. Spectrum now processes all aspects of Standard Bank Asia's forex and interest rate transactions, from deal-capture in the front-office straight through to general ledger accounting in the back office.

Standard Bank initially licensed Spectrum for its London trading room in 1998, and is currently using Spectrum in London, New York and Hong Kong. The Hong Kong installation of Spectrum supports over 20 users across the bank's interbank dealing, sales and private banking desks.