Sumitomo Corporation installs FNX’s Sierra

The Tokyo-headquartered trading company is using the system to process trades for precious and base metals, commodities, and energy - such as crude oil, petroleum and natural gas. The Sierra Commodities Blotter, a real-time, cross-product portfolio management tool, will provide consolidated, user-configurable trade and position detail views, as well as one-click access to trade entry, pricing and yield calculation screens.

Sumitomo has also employed Sierra’s Back Office and General Ledger modules to further support automated STP. In addition, the SierraLink interface module is being used to allow trade and rate transfers from legacy systems, as well as to provide a real-time trade interface to the Tokyo Commodities Exchange.

“We selected Sierra to reduce risk and increase our processing capabilities, from trade entry to payment,” said K Iwanaga, deputy general manager and commodities business head trader at Sumitomo. “We expect our newly consolidated workflows to result in improved operating efficiencies that will help us contain costs and provide better service to our customers.”

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