IIB Bank is to implement the Murex Treasury System, which covers a range of financial products such as derivatives and commodities. The system handles these products from the front end pricing and deal capture process right though middle and back office processing covering accounting, settlements and risk management.
The system will be based on hardware from Sun Microsystems and will be implemented by Sabeo Technologies and Sun’s local representatives Horizon Open Systems. The project includes the supply of hardware, software and support for the implementation of the Murex Treasury System.
Commenting on the announcement Kenneth Coffey, head of IT services, IIB Bank said: ‘The Murex application is highly successful in KBC’s [IIB’s parent] offices in Belgium and in other sites across Europe. However, it was necessary to get a local partner that we could trust to supply and support the infrastructure for the Murex system.’
Paul Goti, Sales Director, Sabeo Technologies said: , ‘It was rewarding to work on this project and build on our existing experience with large enterprise customers and projects of this nature.’
‘For a financial institution like IIB any downtime due to a systems failure would be disastrous causing inconvenience to its customers and millions of euro in lost business,’ said Donal Sheehan, account manager with Horizon Open Systems. ‘IIB’s main requirement was therefore for a reliable system with high availability to guard against such a scenario. We supplied a cluster environment comprising
two SunFire V880 servers with 8Gbyte memory and four processors in each server including a total of 2TByte of disk storage.’
18/10/04
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