2018 Adam Smith Award Asia recognizes CLP Holdings’ risk management excellence
Hong Kong —19 Nov 2018: ION, the largest global provider of trading, analytics and risk management solutions for capital markets, commodities and treasury management, announces that CLP Holdings, an ION customer, is an Overall Winner of the 2018 Adam Smith Award Asia for ‘Best Risk Management Solution.’
A key factor in the award was CLP’s deployment of Reval, an ION Treasury solution, as part of a program to future-proof their treasury, risk management and cash operations by moving from conventional data posting to automation in the cloud.
Adam Smith Awards, conferred by the publishers of Treasury Today, are a highly competitive and globally recognized endorsement of corporate treasury achievement.
CLP Holdings is one of the largest investors in the energy industry in Asia Pacific. Two years ago, the Hong Kong-based company began a transformation project that included restructuring treasury and risk operations from disparate IT systems, Excel spreadsheets and standalone protocols, and implemented a new Group Treasury and Risk Management (GTRMS) solution. The objectives were better integration of cash and risk management, access to real time data, enhanced controls and increased compliance. CLP’s complexity required a scalable solution that could provide increased on-demand visibility and speed up the mark-to-market process.
“Reval has generated substantial performance gains, giving us better on-demand visibility for improved risk management. Mark-to-market processing times of our whole derivative portfolio have been reduced from several days to less than an hour,” said Francis Ho, Senior Director, Group Treasury & Project Finance for CLP Holdings Limited.
“By cutting our dependence on spreadsheets and centralizing treasury information, we have improved monitoring, efficiency and accuracy. It also means better and more informed decision-making, and an ability to respond to changes in market, regulatory and risk quickly and at minimal cost. We now adhere more tightly to market best practices in financial risk management, and are now positioned to further expand capabilities by linking to other platforms quickly and at low cost.”
Patrick Cannon, EVP of Reval and Treasura at ION Treasury said, “We are delighted that CLP Holdings is recording such a strong set of wins from the deployment of Reval. The CLP Treasury team knew they were regional pioneers for treasury in the cloud, and the Adam Smith Award Asia in part is recognition that their bold move has been very successful.”
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. For more information, visit www.iongroup.com.
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About ION Group
ION Group provides mission-critical trading and workflow automation software, high-value analytics and insights, and strategic consulting to financial institutions, central banks, governments, and corporates. Our solutions and services simplify complex processes, boost efficiency, and enable better decision-making. We build long-term partnerships with our clients, helping transform their business for sustained success through continuous innovation. For more information, visit https://iongroup.com/.
About ION Treasury
ION Treasury delivers unique treasury and risk management solutions to organizations of all sizes, offering both on-premises and cloud options. Our award-winning solutions help manage liquidity and mitigate operational, financial, and reputational risk. Together with a global community of over 1,100 clients, we are shaping the future of treasury and risk management technology. For more information, visit https://iongroup.com/treasury/.