Spectrum is a front-office to back-office position management and wealth management solution which supports multiple asset classes including foreign exchange, money markets, fixed income, equities and derivatives.
Commerce Bank will use Spectrum to manage all aspects of its foreign exchange operations, including the trading of FX Spot-Forward-Swap and Time Option contracts, FX OTC Option contracts and foreign currency bank notes.
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Spectrum provides the complete range of FX management functionality for true straight-through-processing in a single system.
As soon as transactions are captured in Spectrum, Commerce Bank’s positions, P&L and projected cash flows will be updated and in the middle-office Spectrum provides real-time credit and risk management through pre-trade and post-trade credit checks.
Spectrum’s back-office produces SWIFT, printed and email confirmations as well as SWIFT payments and multiple formats of wire payments, whereas general ledger accounting entries are produced by Spectrum and stored in Spectrum’s multi-currency treasury sub-ledger.
Apart from licensing the core Spectrum system, Commerce Bank also licensed the Spectrum FX Client Portal, an internet banking portal that provides a direct bank-to-customer channel for FX transaction execution and management.
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By GlobalDataThe Spectrum FX Client Portal will allow Commerce Bank’s customers to obtain competitive and executable FX quotes, and to establish and manage customized workflows for the settlement of FX spot-forward-swap and time option contracts.
