TMSShell adopts new global electronic treasury system

Shell adopts new global electronic treasury system

Shell and Bloomberg have teamed up on a new central treasury system that connects the energy company's central treasury office directly to its 718 operating units in 22 countries.

Shell and Bloomberg have collaborated on a new central treasury system designed to connect Shell’s subsidiaries globally. The energy giant’s foreign exchange central treasury is responsible for managing one of the largest annual FX operating turnovers in the world.

The technology was developed by Bloomberg in partnership with Shell and connects the company’s central treasury office directly to its 718 operating units in 22 countries, so they can quickly and electronically exchange information. The functionality helps Shell manage its group risk with more than 200 distinct bank counterparties via the Bloomberg Terminal, which is used by corporations and investment managers.

“Shell worked with Bloomberg to develop a comprehensive process that helps reduce our operating risk and transaction costs,” said Michael Dawson, Shell head of liquidity and foreign exchange.

“Now, we can more efficiently route market requests from regional centers around the world to our central treasury. The Bloomberg Terminal connects Shell with all our counterparties, providing straight through processing (STP) into Shell’s treasury management system.”

Tod Van Name, Bloomberg global head of FX electronic trading, said: “Shell has long been an early adopter of innovative FX technology. They have used Bloomberg’s FXGO electronic execution for many years.

“Together, we have built a solution that creates a fast and easy end-to-end electronic FX workflow with a reliable order audit trail. Shell has helped us create the tool that multi-national corporate treasury executives have needed for a long time.”

The new corporate treasury service is integrated with the Bloomberg Terminal to connect it with a complex and extensive global network that also provides flexibility, automated execution and risk mitigation. The interface has a simplified internal booking process, addresses corporate governance and is integrated with Bloomberg’s FX electronic trading platform FXGO.

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