From the November 2008 issue of Treasury & Risk magazine

Bronze AHA Award Winner in Credit Risk Management

At General Electric Co., matching interest rate and foreign currency trade data with its thousands of counterparties around the world was stymied by the lack of an international standard for recognizing and capturing trades, not to mention the poor and often inconsistent data received from the counterparties.

As GE's book of assets grew, so did its book of complex derivatives. It soon became apparent--and imperative--that a system was needed to put trades and marks with counterparties in agreement. "We were getting marks in from counterparties on Excel worksheets that made no rhyme or reason," says Dennis Sweeney, deputy treasurer at Stamford, Conn.-based General Electric.


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