National Australia Bank has signed a global license agreement for Financial Software Systems’ Spectrum Treasury System. Spectrum will be rolled out to the bank’s offices in Melbourne, Sydney, Auckland, Wellington, London and Glasgow. The bank already uses Spectrum in its New York, Hong Kong, Singapore and Tokyo offices.
Spectrum’s “turn-key” architecture and risk management capabilities were among the key features NAB liked about the system, as well as the in-depth coverage of both cash and derivatives across both FX and interest rate instruments.
Meanwhile, the bank is the newest entrant to join the B2B portal CFOWeb.com, which provides corporate treasurers and fund managers with free access to FX, interest rate derivative and money market products. The service offers indicative pricing, portfolio analysis and online trading, as well as valuations.
“CFOWeb.com is an e-commerce solution that allows an organisation such as National Australia Bank to grow our business without incurring significant infrastructure costs,” says Shaun Dooley, head of e-business development for NAB’s Global Markets division.