Treasury Management System developers have stopped trying to build all functionality themselves. Instead they are focusing on the core functionality, and then linking to specialists for additional services to provide the complete solution corporate treasury departments are looking for.

The BELLIN group is a classic example of this. With their partner companies they serve close to 300 customers comprising more than 5,000 companies and 15,000 users. BELLIN products are hosted on a secure, private network distributed across five data centers in three countries. BELLIN's flagship product tm5 is the web-based all-in-one solution. Two recent developments demonstrate their approach.

EMIR reporting

Regulatory reporting is a core activity in many corporate treasury departments, so most TMS developers have built their own module. Current requirements are that both parties must report trades to a repository, maintaining the same trade reference identifiers, not just the dealer. For Amerocentric treasuries, reporting of foreign exchange (FX) trades may be the greatest challenge; as trade reference identifiers in the US are often synchronised in-house, instead of through a centralised system, resulting in infra-structural differences that make keeping a common trade reference identifier difficult. As each party must report the same trade reference identifier, companies may be required to modify their workflows in order to maintain matching.

In their tm5 system, BELLIN have developed an EMIR reporting module in which:

1. allows users to select the range of dealings they want to report. The TMS reminds user about missing data. Then click to send to the Trade Repository
2. the TMS tracks the stages the report has reached and whether there are any errors in reporting and matching, and when the trade has been confirmed.

Partnership with vwd

Providing market data is a more specialist task and is not needed by all corporate treasury departments, so many TMS developers have partnered with the data providers. BELLIN has just announced their partnership with vwd group one of the leading European providers of information, marketing and technology solutions for the securities business.  

The new BELLIN Market Data services includes access to more than 100 EUR FX spot and ECB reference rates, interest rate swaps in 19 currencies and 27 IBOR rates  (which is sourced from Tullet Prebon Information). It is also possible to order LIBOR rates. Users have a direct contractual relationship with vwd group, plus fully integrated data delivery into the tm5 system.

Both BELLIN and vwd are intending that this is the first of many new initiatives.

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CTMfile take: This the future of TMS: core functionality provided by the TMS developer and the additional services from partnerships with specialist providers.