Clareti Banking
Transaction Processing: Foreign Exchange
Solutions
Retail
Gresham provides the functionality required to manage a Retail Foreign Exchange operation via branches, call centres or via your Home Banking application using the Internet.
The Retail Foreign Exchange module interfaces automatically with our Wholesale Foreign Exchange module to assist in managing organization-wide positions.
Features include:
The ability to implement any desired currency at the customer sales interface
The ability to set Retail exchange rates, currency by currency
The ability to specify maximum transaction size, currency by currency
The ability to change rates at the sales interface as required. It is possible to implement Supervisor Override functionality if necessary
The ability to inquire on-line into the details of any Foreign Exchange contract based on various criteria
Wholesale
Gresham's Clareti Banking application provides comprehensive functionality to support your Wholesale Foreign Exchange operation.
The Foreign Exchange module provides - among others - the following features:
On-line capture and verification of booking ticket information for wholesale and retail deals and for arbitrage internal contracts
The automatic maintenance in real time of both currency and counterparty positions with captured deal information
The ability to inquire on-line against the current limit and exposure of any counterparty on file and into the current position for any traded currency
The prompt transmission of confirmations and notifications of settlement for each wholesale deal
The ability to inquire on-line into the details of any Foreign Exchange contract based on various criteria
The generation of internal accounting entries for all types of foreign exchange trading, and the interface of these entries with the General Ledger module
The ability to both debit and credit funds bought and sold directly to the counterparty's designated DDA account and to generate the appropriate entries to the DDA module
The ability to utilize nostro accounts for settlement of wholesale contracts using designated correspondents with the automatic generation of appropriate entries to the DDA module
Comprehensive reports for management information and for the preparation of Government returns where necessary
Profit reporting related to the appropriate area of activity
The Foreign Exchange module operates in an on-line mode and utilizes the Customer Master and Control Files as part of Clareti Banking. All input, i.e. new deal, changes to existing deals and deletions, settlement instructions and report requests are entered on-line and update the relevant information of the file. Overnight, next day settlements will be determined and positions updated.
All scheduled reports will be produced during overnight processing. Special listing or on request reports may be printed on-line.
The system interfaces to the G/L system by generating the G/L entries to the proper accounts after posting every night. Entries are also generated to DDA to update customer accounts with currency purchases and sales (retail) and correspondent nostro accounts for settlement of wholesale deals.
Transaction Processing
