The Federal Home Loan Bank (FHLB) Boston is to implement Summit’s system to manage the bank’s investment and funding portfolios along with its associated hedging activities. A phased rollout will be conducted with the assistance of Summit’s Consulting Services Group and is planned to conclude in Q4 of 2004. The new integrated software platform will provide the bank with a real-time STP environment that includes trading, risk management and back-office processing support for a wide array of fixed income securities (including mortgage-backed), money market instruments and interest-rate derivatives, according to Summit. Commenting on the decision, Kelly LaCava, Vice President Information Technology at FHLB, said: ‘The operational inefficiencies associated with operating and maintaining a number of product-specific applications is undesirable for any bank. We needed to simplify our processes and environment by standardising on a single front-to-back STP software platform.’
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.