HK Exchange Fund to Be Managed by New Monetary SystemHong 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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