Published Date: September 07, 2011
Migration to Finacle Boosts Operational Efficiencies, Reducing Total Cost of Ownership and Trade Booking Times
Bangalore; London; Fremont, USA – September 07, 2011: European Credit Management Limited (ECM), the specialist fixed income asset management company, has strengthened its existing relationship with Infosys by implementing Finacle Treasury as their trading platform for Credit Derivatives and Total Return Swaps products. This development displaces the incumbent technology solution, and has led to the consolidation of multiple trading platforms onto Finacle Treasury.
ECM is a long-standing Finacle Treasury client having selected the solution over 10 years ago to streamline their asset management operations. The growth in ECM’s business in this time has resulted in the deployment of additional technologies. In recent years ECM found the requirement to manage disparate trading systems created operational inefficiencies and decided to consolidate these systems onto Finacle Treasury. The migration of Credit Derivative and Total Return Swaps trading onto Finacle Treasury alongside existing support for FX, bonds and derivatives products will enable ECM to benefit from reduced operational errors and data duplication. This will also help to minimize total cost of ownership and internal development costs and simplify internal training requirements.
Simon Radway, Business Manager, ECM, said: “Extending our usage of Finacle Treasury was an obvious choice for us since the majority of our positions are already booked in the system, and our traders have always responded positively to the system due to its user-friendly interface and rich functionality. To date, Finacle Treasury has enabled us to streamline our operations, improve efficiencies within the business and deliver an increased cost-benefit ratio across our front, middle and back office. The solution is faster and more stable than the previous systems. We are delighted with the results so far and are confident that this partnership with Finacle will enable us to continue to grow our businesses and better service our client portfolio.”
ECM will also take advantage of Infosys association with the FINCAD Alliance Program, which will enable them to access FINCAD’s extensive derivatives analytics library. Access to this built-in pricing based on industry-standard analytics will enhance ECM’s valuation and risk capabilities and make them more responsive to the market.
Sanat Rao, Vice President and Global Head – Client Services, Finacle, Infosys Ltd. said: “We are delighted with the decision by European Credit Management to extend this relationship by consolidating on Finacle Treasury as their preferred front office trading system. The deployment of credit derivatives module of our solution on top of the existing asset classes at ECM illustrates our commitment to deliver top quality products to customers. With an easy-to-use and intuitive interface, Finacle Treasury’s credit derivatives solution has significantly streamlined the trade booking process and enabled ECM to price credit derivatives with industry-standard pricing capabilities from FINCAD. We look forward to partnering with ECM and helping them to harness the power and flexibility of Finacle to reduce opex and service their business effectively.”
European Credit Management is a specialist fixed income manager, established in February 1999 to take advantage of opportunities in the fast growing European credit market. Over the past decade, ECM has become a major player in the fixed income markets. Apart from investment grade corporate bonds, it also covers asset backed securities, bank capital, loans, high yield and European emerging market debt. It currently manages around EUR 8.5 billion of assets on behalf of a diversified institutional client base. In February 2011, ECM’s asset manager rating of M2 was affirmed by Fitch Ratings. The Citywire Fund Manager league table of Pan European fixed income managers features three ECM funds out of the top four best performing fund managers (1 year, end October 2009 – end October 2010). European Credit Management Limited is authorized and regulated by the FSA.
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