Banca Mifel has licensed the Spectrum Treasury System from Financial Software Systems to manage its foreign exchange (FX), money market and bond trading activities. The bank will implement Spectrum in its headquarters office in Mexico City.
Banca Mifel offers a broad range of financial products including loans, investments, savings and chequing accounts, FX services and interest rate risk hedging products.
In its treasury Banca Mifel will use Spectrum to manage its issuance of promissory notes, bonds, and certificates of deposit. Banca Mifel will also use Spectrum to manage its trading activities in international government and corporate bonds, call money, interbank equilibrium interest rate (TIIE) auctions, repo transactions, and FX.
Gaston Peralta, sales manager for Latin America and the Caribbean for Financial Software Systems, said: “Banca Mifel is distinguished for offering quality financial products and services with a personal focus. Implementing Spectrum will allow Banca Mifel to carry those qualities into its treasury activities and services. Spectrum will allow Banca Mifel to significantly expand its foreign exchange, money market and bond trading activities and to do so in an efficient and cost-effective manner. As Financial Software Systems enters the Mexican market we look forward to a long and successful partnership Banca Mifel.”
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