LONDON—25 June 2018: ION, the largest global provider of trading, analytics and risk management solutions for capital markets, commodities and treasury management, announces that Toyota Financial Services, an ION customer since 2006, is a Highly Commended Winner of the 2018 Adam Smith Award for “Best Funding Solution.” Wallstreet Suite, an enterprise treasury and risk management solution in the ION Treasury portfolio, is cited as a valued technology partner to Toyota Financial Services’ treasury team in its initiative to boost access to global capital while reducing borrowing costs.
Adam Smith Awards, conferred by the publishers of Treasury Today, are a highly competitive and globally recognized endorsement of corporate treasury achievement.
Managing assets totalling nearly $115 billion, Toyota Financial Services (TFS) is the finance and insurance arm for Toyota in the US, offering retail financing, leasing, vehicle protection plans, and other financial services to authorized Toyota dealers. The treasury team at TFS earned this year’s Adam Smith award based on significant enhancements to funding programs, processes and technology to facilitate efficient intercompany lending, reduce refunding risk, and lower cost of funds by accessing US capital markets.
Specifically, TFS is enhancing its USD Commercial Paper (USCP) program for international affiliates, an initiative to add new lines of business that facilitate intercompany funding, in US dollars, around the world. Affiliates in the Netherlands and Australia were among the first to introduce and establish USCP programs, offering floating rate commercial paper, through the Toyota Motor Credit Corporation direct CP network. The treasury team used Wallstreet Suite to develop and validate scenarios that underlie the USCP program—saving millions in borrowing costs, while meeting new funding requirements.
Norman Brem, Senior Analyst of Funding & Liquidity at Toyota Financial Services, said, “To support a global brand like Toyota, Toyota Financial Services requires considerable flexibility to quickly expand our funding programs amid global market volatility and regulatory shifts. The Wallstreet Suite solution helped us model and confirm the instruments required to execute a future-ready funding strategy with accuracy and speed, preparing us for increased demand from around the world.”
Andrew Alcock, Director of Sales and Account Management at ION Treasury, said, “We are pleased to add our congratulations to Toyota Financial Services. Our aim at ION Treasury is to empower clients to take full advantage of our solution capabilities and flexibility to help fuel the growth of every business we serve.”
ION Treasury serves more than 1,300 clients in nearly three dozen countries. Market-leading products include Wallstreet Suite, Openlink, Reval, IT2, ITS, City Financials, and Treasura, satisfying the needs of companies of any size, budget, and IT capability.
ION provides mission-critical trading and workflow automation software solutions to financial institutions, central banks, governments and corporates.