Jemena, a US$11bn Melbourne-based company that owns and manages some of Australia's most significant gas and electricity assets, is now live on GTreasury to support its risk management and hedge accounting activities. GTreasury is a digital TMS platform for integrated treasury management and risk management.

Jemena also part-owns the ActewAGL electricity and gas distribution networks in the ACT and United Energy, which supplies electricity to more than 600,000 customers across south-eastern Melbourne and the Mornington Peninsula.

“We wanted one, cloud-based TMS that could handle complex instruments, hedge accounting and compliance, and integrate easily with trading, data and settlement systems,” explains Jemena treasury manager Jean Feng. “Before implementing GTreasury, we spent so much time logging in and out of different systems, re-keying entries and keeping accounting records manually. Now we can easily execute a trade and back-to-back it down to our subsidiary structure, automatically.”

The Jemena team is using a range of GTreasury capabilities to manage their debt and hedging programs and comply with IFRS9 hedge accounting requirements as well as IFRS13 requirements for credit valuation adjustments (CVA). In addition, all facilities and guarantees are recorded and processed in the system. Jemena is also straight-through processing (STP) treasury-related payments and automating the creation of general ledger postings. GTreasury’s connectivity capabilities automate the loading of back-to-back foreign exchange (FX) forward and swap transactions, which are executed on an FX trading platform.