Northern Rock Selects Wall Street System for its Treasury Operations
Wall Street Systems has revealed that Northern Rock, the eighth largest UK bank by market capitalization, will be implementing The Wall Street System treasury and capital markets solution at its head office in North East England. Northern Rock will install a range of front, middle and back office modules from Wall Street Systems. the bank will use the systems to process transactions required for short- and long-term funding, including securitization issues and covered bonds, securities investments and derivatives. “Increasing regulation and the escalating range of instruments we use has driven this initiative to review our technological needs,” said Steve Johnson, deputy treasurer of Northern Rock.