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TAIPEI BANK EXPANDS THE USE OF SIERRA TREASURY.
(Full text of statement. Contact details below.)
PHILADELPHIA & TAIPEI, Taiwan--(BUSINESS WIRE)--March 1, 2005--FNX Limited (FNX), a leader in the delivery of technology solutions to the global financial markets is pleased to announce that Taipei Fubon Commercial Bank, the new entity created from the merger of Taipei Bank and Fubon Commercial Bank, has successfully migrated Fubon Commercial Bank's treasury data from Reuters K+ to a unified treasury platform on the Sierra Treasury System. This is the first successful merger case in Taiwan where a private bank merges with a state owned bank.
After a thorough evaluation, the bank selected FNX because of its extensive experience in the Asian Market, Sierra System's cross product coverage, web based order management functionality, single database architecture and its ability to provide a truly STP solution along every asset class.
Taipei Fubon Commercial Bank decided to deepen its relationship with FNX after considering FNX's leading edge solutions, local onsite support, experienced bilingual support staff and guaranteed delivery.
Taipei Fubon Commercial Bank had very tight deadlines due to the merger and was confident that FNX would complete the system integration of the two banks by the required timeline. With the implementation of Sierra Treasury the bank has consolidated the multiple systems in use at Fubon Bank on to a single system, achieving greater operational efficiencies, and reduced the maintenance and support costs.
The merged operation is using Sierra Treasury to support its FX Cash, FX and Exotic Options, Money Markets, and ...
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Source: HighBeam Research, TAIPEI BANK EXPANDS THE USE OF SIERRA TREASURY.