French government treasury Agence France Trésor (AFT) has begun installing GL Trade's back-office system Tradix to manage its debt and cash flow operations.
The vendor says the system will process AFT's settlement-delivery instructions and cash operations and generate all financial events relating to trade confirmations. Information will automatically be transferred to the treasury's central accounting agency.
"With Tradix we can securely monitor all market operations from order placement to settlement then, adjust and balance our managed accounts in the accounting standards used by the financial sector on a daily basis," comments Jean-Pierre Cornillaut, head of IT, AFT.
AFT says the vendor's cash management module will also be used to forecast and track cashflow for the French government's consolidated account.
The platform is scheduled for launch in early 2007.
GL Trade acquired the Tradix technology when it bought out Paris-based vendor Ubitrade Group in December 2004.