The central bank of Costa Rica has licensed the Findur integrated trading and portfolio management platform from New York-based vendor OpenLink.
OpenLink says its will support Banco Central de Costa Rica's (BCCR) investment portfolios covering all traded products along with ALM functions and debt issuance processes.
The system features adaptive trade entry facilities, pricing and analytical tools and position and risk management functionality. Back-office capabilities include transaction lifecycle events processing, real-time compliance limit checking, subledger accounts posting and performing automatic reconciliations.
"The bank was seeking a straight-through-processing solution for all front, middle, and back office functions, which will allow us to reduce operational risks," says Roy González, GM, BCCR.
"It was important for the system to offer a centralised database of information that could be accessed by all stakeholders. With OpenLink's Findur, we expect to better manage our current product requirements while also providing support for new instruments as they are added to the portfolio," he adds.
Findur will be rolled out at the bank in the second half of 2006.