News
Banco de México to Implement OpenLink's Findur™
System Will Be Used to Integrate Front-, Middle-, and Back-office Functions
MITCHEL FIELD, NY, December 5, 2002 /PRNewswire/ — OpenLink, an industry leader in financial and energy trading, risk management, and operations software, announced today that Banco de México has licensed the company's Findur™ solution.
With over US$40 billion in reserves and as the second largest central bank within the Americas, Banco de México will implement Findur to manage its investment portfolios, foreign exchange, loan activities, interest rate derivatives, precious metals, and energy derivatives.
"We were seeking a system that would integrate front-, middle-, and back-office functions in such a way that it meets not only our present straight-through-processing requirements, but future goals as well," said Dr. Manuel Galán Medina, the bank's director of operation systems and payments. "Findur fills this requirement while including flexible, integrated audit and accounting support that is above and beyond that of the other systems we reviewed."
Meeting the reserve management needs at several of the world's leading central banks, Findur provides the information transparency and control needed for timely decision making. While it encompasses the entire transaction lifecycle, enhanced automation of settlement processes is provided through OpenLink's optional yet fully integrated Open Settlement Solution. Also to be implemented by Banco de México, this messaging middleware offers multi-channel connectivity that utilizes the functionality of Trace Financial's CLOVERLEAF Finance™.
"We welcome Banco de México to the OpenLink family," added Coleman Fung, OpenLink's founder and CEO. "After a diligent selection process, the bank's selection of Findur reinforces that our focused development and strategic partnerships with leading players within the global financial markets have resulted in an integrated solution that balances robust trading and risk features with operational efficiency, internal control, and process automation."
About Banco de México
Banco de México is the central bank of Mexico. Its primary goals include managing the supply and stability of the country's currency, regulating its issuance and circulation, and providing financial intermediation activities. It also promotes the sound development of the Mexican financial system and fosters the proper functioning of payment systems. The Bank provides treasury and advisory services to the Federal Government and acts as its financial agent. Banco de México participates in the International Monetary Fund and other international financial cooperation institutions.
About OpenLink
Founded in 1992, OpenLink is a leading provider of trading, risk management, and operations software solutions. The company's Adaptive, Dynamic, and Integration-enabling (ADI) Framework-based solutions support the most rigorous business requirements of firms trading in energy, interest rate derivatives, fixed income securities, foreign exchange, money markets, metals, and soft commodities. OpenLink's global client base includes Banco de Mexico, Bank of America, Bank for International Settlements, Bank of Canada, Bank of Scotland Treasury PLC, Bridgeline Holdings, Deutsche Bank, Edison International, Enbridge, Mirant, Nexen, Shell, and Vattenfall Europe Trading. Headquartered in Long Island, New York, and with offices in London, Houston, New York City, Berlin, Sydney, São Paulo, and Tokyo, OpenLink employs more than 270 professionals worldwide.
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