Banco Central de Costa Rica (BCCR) Selects OpenLink's Findur; Costa Rica's Central Bank Opts for Findur as Its Front- Through-Back-Office Solution.UNIONDALE, N.Y. -- OpenLink (www.olf.com), a leading provider of financial and commodity trading, risk management, and operations processing software solutions, announced today that Costa Rica's central bank, Banco Central de Costa Rica (BCCR BCCR Banco Central de Costa Rica BCCR British Columbia Cave Rescue ), has licensed Findur, the company's integrated trading and portfolio management solution. San Jose-based Banco Central de Costa Rica (BCCR) now plans to implement the Findur system in the second half of 2006. The primary business objective for the implementation will consist of supporting the bank's investment portfolios covering all traded products. BCCR will also seek improvements to its Asset/Liability Management Asset/Liability Management A technique companies employ in coordinating the management of assets and liabilities so that an adequate return may be earned. Also known as "surplus management. function and will rely on Findur to aid with the debt issuance process and all middle- and back-office related tasks. Findur is currently deployed at some of the world's most prominent central banks for its comprehensive Straight-Through-Processing (STP STP or standard temperature and pressure, standard conditions for measurement of the properties of matter. The standard temperature is the freezing point of pure water, 0°C; or 273.15°K;. ) capabilities supporting a wide range of financial products. Findur's user-friendly and adaptive trade entry facilities, pricing and analytical tools, and position and risk management capabilities are highly valued by traders, portfolio managers, and risk managers alike. In addition, Findur's back-office capabilities - from seamlessly processing transaction lifecycle events, real-time compliance limit checking, to posting sub-ledger accounts and performing automatic reconciliations - have greatly improved the efficiency and productivity of the operational staff at these central banks. "The bank was seeking a Straight-Through-Processing solution for all front-, middle-, and back-office functions, which will allow us to reduce operational risks," said Roy Gonzalez, the bank's General Manager. "It was important for the system to offer a centralized database of information that could be accessed by all stakeholders. With OpenLink's Findur, we expect to better manage our current product requirements while also providing support for new instruments as they are added to the portfolio." "We welcome Banco Central de Costa Rica to the OpenLink family," added Coleman Fung, OpenLink's founder and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Winning BCCR signifies not only our partnership with the bank but also our commitment to the Central and South American marketplace. We expect that our strong Findur development track record, coupled with the acceleration of investment in our Latin American service and support infrastructure, will result in significant growth in new clients in the region for years to come." About Banco Central de Costa Rica Banco Central de Costa Rica is the national central bank for the Republic of Costa Rica. Its main objectives include maintaining the overall stability of the national currency and foreign exchange operations and the management of Costa Rica's international monetary reserves. It also operates the national payments system and works to promote a reliable and robust financial system. BCCR also manages funding operations to meet the needs of the domestic economy. About OpenLink Founded in 1992, OpenLink is a leading developer of financial and commodity trading, risk management, and operations processing software solutions. The company's Next Generation eXtensible (NGX NGX Natural Gas Exchange Inc. (Canada) NGX Next Generation X ) platform supports the most rigorous business requirements of firms trading in virtually all asset classes. OpenLink's global client base includes 70+ clients such as Banco de Mexico, Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. , Bank for International Settlements, Bank of Canada Bank of Canada Canada's central bank, established under the Bank of Canada Act (1934). It was founded during the Great Depression to regulate credit and currency. The Bank acts as the Canadian government's fiscal agent and has the sole right to issue paper money. , Bank of Scotland Bank of Scotland plc is a commercial and clearing bank, based in Edinburgh, Scotland. With a history dating to the 17th century, it is the oldest surviving bank in what is now the United Kingdom, and is the only commercial institution created by the Parliament of Scotland to Treasury PLC, Citigroup Global Market, Inc., and Deutsche Bank. Headquartered in Long Island, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , and with offices in London, Houston, New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , Berlin, Sydney, and Sao Paulo, OpenLink employs more than 360 professionals worldwide. |
|
Printer friendly
Cite/link
Email
Feedback
Reader Opinion