Mitsubishi UFJ Securities Selects ClusterSeven to Reduce Operational Risk
Mitsubishi UFJ Securities Intentional (MUSI) has adopted ClusterSeven’s technology to manage its business-critical spreadsheets in order to reduce operational risk. MUSI has deployed the technology in the product control department of its London office with an initial licence to manage up to 200MB of operational spreadsheets. Following an enquiry to Microsoft in the US, MUSI was directed toward ClusterSeven’s technology for its non-invasive capability to offer effective change control of spreadsheets. The investment bank piloted the software on spreadsheets used for structured trade pricing within the product control of the finance department. After 20 days of consultation to identify the critical spreadsheets, it took five weeks and a team of two to implement the solution, which went live in October 2006. According to ClusterSeven, by tracking every amendment MUSI is able to meet the most stringent interpretations of regulatory initiatives on spreadsheet compliance such as SOX and Financial Services Authority (FSA) regulations efficiently without stalling business flexibility.