The Huntington National Bank has picked Wall Street Systems (Wallstreet), a provider of treasury, trading and settlement solutions and services, for its electronic settlement network (ESN) service. Wallstreet ESN is a full front-to-back office trade processing service for the capital markets. Huntington will use a wide range of Wallstreet ESN’s foreign exchange (FX) functionality, including the FX sales and trading tools, position management, e-trading, e-operations, back office, SWIFT interface, accounting and more.
The hosted nature, subscription-based pricing and scalability of Wallstreet ESN were well-suited to Huntington’s goals for expansion, according to James Barron, managing director of currency risk management. Wallstreet and Huntington worked closely to develop an aggressive delivery timeline that will be based on an established best-market practice configuration that forms the basis for every Wallstreet ESN implementation. This configuration allows the bank the flexibility to tailor the Wallstreet ESN solution to its needs while expediting decisions that are known standards within the regional banking market.
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