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August 30, 2009

Standard Chartered Bank’s SCB Deploys Spectrum Private Banking Solution

To manage client accounts, trades and global private banking operations

By CBR Staff Writer

Financial Software Systems, a Pennsylvania-based provider of management and client relationship management software for banks, fund managers and corporations, has announced that UK-based Standard Chartered Bank’s consumer banking and wealth management group (SCB) has implemented its Spectrum Private Banking solution.

Reportedly, Spectrum Private Banking is a solution for managing client accounts, trades, and the bank’s global private banking operations. Additionally, the bank is also using this solution to manage its collateralized cross product trading business.

According to the company, Spectrum provides complete wholesale and private banking trade management functionality for foreign exchange, interest rate, equity and derivative products. It contains a technology for managing credit and collateral relationships, for managing, monitoring and reporting client trading activities.

The company claims that Spectrum is distinguished by a middle-tier calculation engine and a middle-tier data distribution service. The calculation engine provides instantaneous calculation of clients’ limits and/or collateral requirements, and makes possible real-time limits and collateral checks. Its data distribution service connects the Spectrum data engine to a variety of position management tools, and allows Spectrum to scale globally. Moreover, it is a multi-lingual system that provides real-time web reporting for client statements and notices.

It has added that the Spectrum Private Banking allows SCB’s clients to take collateralized positions in FX (spot, forwards, swaps), FX Options (vanilla, single and double barriers, digital, single and double digitals, accumulators), equity, bond, equity option, bond option and money market contracts with real time collateral and credit monitoring.

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