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Banco de México Goes Live with OpenLink's Findur Version 8.0
Banco de México Becomes 1st Customer to Upgrade to OpenLink's Latest Findur 8.0R1 Version
UNIONDALE, NY, September 30, 2005 /Business Wire/ — OpenLink, a leader in providing trading and risk management software solutions, announced today that Banco de México, the second largest central bank in the Americas, has gone live with Findur version 8.0, OpenLink's latest front- through back-office, fully integrated financial software solution.
Banco de México upgraded to version 8.0 in just three months; the project was completed on schedule and under budget. As Banco de México was the first client to upgrade to this latest version, much of the initial beta testing was conducted at both OpenLink's corporate headquarters on Long Island, New York, and the bank's location in Mexico City, Mexico. Leveraging a rigorous test plan and a comprehensive support infrastructure provided by OpenLink, the central bank is now fully live and able to utilize Findur's latest enhancements, especially the new Trader Desktop, Settlement Desktop, and Reconciliation Module.
Ricardo Medina, Banco de México's operation systems and payments director noted, "When we signed on with OpenLink and the Findur solution in 2002, we were seeking a system that would integrate our front-, middle-, and back-office functions in the best possible way. Findur's latest version 8.0 meets not only our present straight-through-processing requirements, but also our future goals by consistently filling our daily requirements while including flexible, integrated audit support. We are satisfied with OpenLink's latest software and don't anticipate the need to review other systems or solutions."
Coleman Fung, founder and CEO of OpenLink, added, "The upgrade project for Banco de México truly highlights OpenLink's corporate culture: we invest more in our products and support our clients better. Furthermore, we value each and every ‘partnership' we have. Both OpenLink and Banco de México have already greatly benefited from this partnership, and we are eager to continue this strong partnership while improving Findur, our future-proof solution."
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 developer of energy and financial trading, risk management, and operations processing software solutions. The company's Next Generation eXtensible (NGX) platform supports the most rigorous business requirements of firms trading in energy, derivatives, fixed income securities, foreign exchange, money markets, metals, and soft commodities. OpenLink has grown steadily since its inception and is staffed today by more than 330 professionals who are dedicated to serving its diverse client base of energy marketers, banks, central banks, insurance companies, corporate treasury departments, hedge funds, asset managers, and public utilities. OpenLink's global client base includes 70+ clients such as Banco de México, Bank of America, Bank for International Settlements, Bank of Canada, HBOS Treasury Services, Bridgeline Holdings, Citigroup Global Market, Inc., Deutsche Bank, Enbridge, Nexen, Shell, Statoil, and Vattenfall Europe Trading. Headquartered in Long Island, New York, global offices include: London, Houston, New York City, Berlin, Sydney, and São Paulo.
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