The central bank of Canada completes the deployment of Openlink’s version 17 ahead of schedule, and under budget
NEW YORK, April 30, 2020 – ION, the largest global provider of trading, analytics, and risk management solutions for capital markets, commodities, and treasury management, today announced that the Bank of Canada is now live on Openlink version 17, the next generation of ION’s front-to-back office trading, treasury, and risk management solution, covering the broadest range of asset classes in the market today.
Established in 1934, Bank of Canada is committed to safeguarding and protecting the country’s financial system. Since 2001, the Bank has used the solution to manage straight-through processing from the front office to the back office, including risk valuation, reporting, and accounting.
Available on-premises or in the cloud, Openlink version 17 addresses the changing nature of payments, and includes new workflows for corporate actions, and collateral management. Flexible collateral management modules enable central and regional banks, asset managers, buy-side firms, and financial institutions to optimize the collateral lifecycle to accommodate bespoke business practices and requirements, while enhanced real-time risk analytics enable more effective portfolio management.
Philippe Muller of the Bank of Canada said, “Our mission is to protect our nation’s economy. When we implement software, we must be absolutely certain that it will not disrupt our business. This upgrade was completed faster than our last one. One of the key success factors was the close relationship we’ve established with ION.”
Rich Grossi, CEO of ION Corporates said, “Openlink helps large organizations engaged in capital markets trade smarter, minimize risk, and streamline business processes in real time, while reducing costs. Our clients are increasingly tasked to adapt to changes in market conditions and regulatory standards. Openlink version 17 was designed with this in mind, and includes a significant investment in software enhancements that expedite implementations and upgrades, while lowering the total cost of ownership.”