GTreasury enables automatic execution of trade for Jemena

Jemena is Live on GTreasury for Risk Management and Hedge Accounting to save time and reduce error by managing complex instruments.

Date published
August 20, 2019 Categories

Jemena has gone live on GTreasury to further support its risk management and hedge accounting activities.

The $11 billion Melbourne-based company owns and manages some of Australia’s most significant gas and electricity assets. Jemena also part-owns the ActewAGL electricity and gas distribution networks in the ACT and United Energy, which supplies electricity to more than 600,000 customers across south-eastern Melbourne and the Mornington Peninsula.

Jemena’s Treasury Manager Jean Feng explained: “We wanted one, cloud-based TMS that could handle complex instruments, hedge accounting and compliance, and integrate easily with trading, data and settlement systems. Before implementing GTreasury, we spent so much time logging in and out of different systems, re-keying entries and keeping accounting records manually. Now we can easily execute a trade and back-to-back it down to our subsidiary structure, automatically.”

Delivered on core treasury objectives

The Jemena team is using a range of GTreasury capabilities to manage their debt and hedging programs and comply with IFRS9 hedge accounting requirements as well as IFRS13 requirements for credit valuation adjustments (CVA). In addition, all facilities and guarantees are recorded and processed in the system. Jemena is also straight-through processing treasury-related payments and automating the creation of general ledger postings. GTreasury’s connectivity capabilities automate the loading of back-to-back FX forward and swap transactions, which are executed on an FX trading platform.

Robert McGuinness, Director of Sales, APAC at GTreasury added: “We’re making treasury work easier for companies all over the world and are happy to have delivered on Jemena’s core treasury objectives. We’re thrilled to have energy/utility leader Jemena part of our global client community.”

Last week, GTreasury and Goldman Sachs entered into a connectivity agreement to create a workflow for investing in money market funds and introduce connectivity to third-party banking and fintech services.

GTreasury is a digital TMS platform that gives organisations cloud access to integrated treasury and risk management solutions. Its design leverages new technologies to connect treasury’s ecosystem, enabling the seamless flow of data across and beyond the enterprise for new and smarter ways of working. With GTreasury, organizations can implement any combination of integrated Cash Management, Payments, Financial Instruments, Accounting, Banking, Risk Management, and Hedge Accounting in one SaaS solution. GTreasury is headquartered in Chicago, with offices in North America, EMEA and APAC.

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