Wall Street Systems has announced that Fifth Third Bancorp, the eighth largest banking institution in the United States in terms of market capitalization, has gone live with the Wall Street System treasury and capital markets solution to provide foreign exchange dealing services for its international division. The front-to-back office system went live in January 2005 and is now being used by 25 foreign exchange traders. Fifth Third has implemented the Foreign exchange, money markets, currency options, settlements and confirmations, money at risk and credit modules from The Wall Street System treasury and capital markets solution. The implementation was based on Wall Street Systems’ best market practice model which accelerated the installation timeframes and reduced project risk to ensure a successful launch.
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