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HK Exchange Fund to Be Managed by New Monetary System
Hong Kong-listed Excel Technology announced Monday in Hong Kong that it has signed an agreement with the Hong Kong Monetary Authority (HKMA) to develop a fully integrated Reserves and Monetary Management System (RMMS) to be used for Exchange Fund management.
Excel will provide a total solution including the development of the new RMMS application software platform tailored to HKMA's requirements, providing hardware and the system installation and implementation services.
The new RMMS is a fully integrated yet modular system covering front, middle and back-office treasury functions as well as a general ledger module and risk management subsystem.
It centers on a workflow engine that facilitates a seamless front-to-back, straight-through processing and can greatly improve work efficiency and enhance risk management and compliance measures.
The project is expected to be completed in the third quarter of 2002.
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