Infinity, a subsidiary of Sungard Data Systems Inc. in Wayne, Pa., has launched a general ledger system.
The system, Infinity G/L, is integrated with Infinity's trade processing and risk management software to achieve straight-through processing. It can also be configured to comply with new accounting rules, such as FAS 133.
Infinity G/L has been installed at Baselr Kantonal Bank in Switzerland. Peter Willi, head of the derivatives back office there, said G/L is flexible and easy to use. It has been integrated with Baselr's front-office foreign exchange system, Infinity Forex, and the Devon System for derivatives trades, also from Infinity.
Mr. Willi said the bank anticipates cost savings and service improvements as data reconciliation and manual intervention are reduced.