CANADA - British Columbia's ministry of finance has selected Trema to integrate its various debt management systems into a single platform.
Announcing the appointment, Trema said: “After the Central Bank of Trinidad and Tobago, the ministry is yet another government client in the Americas this year to adopt Trema’s integrated straight-through-processing system to deliver greater automation and reduced operational risk.”
The solution will support a range of debt instruments including, but not limited to fixed income, foreign currency bonds and derivatives, Trema said in a statement.
Commenting on the selection, Bill Shortreed, executive director of the ministry’s debt management branch said: “It has taken us several years to find the right debt management solution for our needs. We were looking for a solution that could integrate our diverse systems, improve automation and reduce risk but, most importantly, we were looking for a solution that would deliver a firm foundation for future growth.
“Our expectation is that Trema’s produce will offer us the flexibility and scalability to move forward successfully.”
Terry Beadle, head of Trema’s government segment, said: “The Province’s selection of the Trema solution… demonstrates that we were serious when we promised continuous expansion in the Americas.
“With the Canada Mortgage and Housing Corporation (CMHC), another Crown entity which has been live with Trema’s solution for some time now, we already had an excellent reference client in Canada.
“We are extremely pleased to have begun work with the Province and see both of these clients as an excellent foundation for future growth in the region.”
The debt management branch of the ministry of finance provides centralised liability management and project finance services to the government and its Crown corporations and agencies, managing a CAN$41bn debt portfolio and the annual borrowing requirements of CAN$3 - CAN$6bn on behalf of client entities.
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