Financial Instrument Management Services (FIMS), as the product is known, is already being used by DZ-Bank Ireland plc and Sachsen Landesbank Europe.
According to Neil Fleming, finance director of AIBIFS, the product was developed to meet recent accounting and regulatory requirements and provides a flexible solution for companies to calculate the numbers required for IAS 39 compliance. FIMS also allows users to access current and historical market data, mark-to-market derivatives, track hedges and test hedge effectiveness, both historically and on an on-going basis. Additionally, companies can load their securities positions/portfolios and schedule their valuation and reporting requirements.
AIB Global Treasury Services will also market the FIMS service to AIB Groups Corporate & Institutional client base. |
