Straight-Through Processing for Short-Term Investments in Corporate Treasury
ICD, the leading independent trading and investment risk management technology company, announced that UK-based energy company Drax won this year’s Corporate Recognition Award for Best Portal Technology Solution, using ICD Portal. The award is part of TMI magazine’s 2019 Awards for Innovation & Excellence in the treasury industry.
Read More: The Timken Company Celebrates 120th Anniversary by Ringing NYSE Closing Bell
“We needed a new portal solution to improve our control environment, streamline our workflow and automate our manual processes,” explains Lisa Dukes, Deputy Group Treasurer at Drax. “With ICD’s portal technology and its global trade desk and account team, we could achieve straight-through processing with Reval and ensure we are applying industry best practices. In this regard, ICD acts as an extension of our team.”
The integrated portal solution allows Drax to easily research, trade and report on money market funds, providing straight-through processing of data from ICD Portal into the Reval treasury management system. In addition to the solution ensuring accurate and efficient flow of trade data, Drax reports that the yield data for dividend calculation is more accurate in Reval as it is pushed directly from ICD.
Read More: FintechOS Raises GBP 10.7 Million (USD 14 Million) Series A for Global Expansion
“Drax exemplifies the kind of treasury organization that is driving the industry forward,” says Karl Adams, Senior Director at ICD. “It is this kind of drive for excellence within treasury that can make a measurable difference across the broader finance organization. Kudos to the team.”
For more than a decade, the TMI Awards for Innovation & Excellence has formally recognized banks, vendors, consultants and practitioners who are defining new frontiers and driving best practices in treasury management globally.
