Brown Brothers Harriman (BBH) has licensed the Spectrum Treasury System from Financial Software Systems. BBH will use Spectrum to enhance its front-to-back office foreign exchange (FX) dealings in spot, forward, non-deliverable forward, swap, and option contracts. The Spectrum Pricing, Aggregation, Routing and Queuing (PARQ) module will provide automation for dealing with BBH’s global clients’ FX needs. The implementation will incorporate the Spectrum FX Dealing Portal, which will create a straight-through processing (STP) channel for BBH clients’ FX trading.
With Spectrum as the new FX system of record, BBH will have its FX trade and client-related data in a single integrated data source. With the Spectrum FX Dealing
Portal, BBH clients will have upgraded web capabilities allowing more automation to be realised through the pricing to back office settlements and accounting. All transactions executed through the Spectrum FX Dealing Portal are executed in a secure environment with multiple levels of authorisation. Transactions flow directly into Spectrum, where front and middle office modules perform real-time limits and risk management calculations, and back-office modules prepare confirmations, payments and general ledger accounting entries.
Jeff Scott, managing director and global head of FX relationship management and sales at BBH, said: “We are very pleased to have licensed Spectrum. We have found Financial Software Systems to be a company we can partner and work with to provide the highest level of service our clients demand. After extensive due diligence, covering a wide range of vendor systems, we concluded that FSS had the right combination of staff expertise, system capability and the ability to deliver custom functionality required for our FX business. We look forward to a long and productive partnership with Financial Software Systems.”
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