Seamless workflow for managing complex instruments saves time and reduces error
Jemena, an $11 billion, Melbourne-based company that owns and manages some of Australia’s most significant gas and electricity assets, is now live on GTreasury to support its risk management and hedge accounting activities. GTreasury is a digital TMS platform for integrated treasury management and risk management.
“We wanted one, cloud-based TMS that could handle complex instruments, hedge accounting and compliance, and integrate easily with trading, data and settlement systems,” explains Jemena Treasury Manager Jean Feng. “Before implementing GTreasury, we spent so much time logging in and out of different systems, re-keying entries and keeping accounting records manually. Now we can easily execute a trade and back-to-back it down to our subsidiary structure, automatically.”
The Jemena team is using a range of GTreasury capabilities to manage their debt and hedging programs and comply with IFRS9 hedge accounting requirements as well as IFRS13 requirements for credit valuation adjustments (CVA). In addition, all facilities and guarantees are recorded and processed in the system. Jemena is also straight-through processing treasury-related payments and automating the creation of general ledger postings. GTreasury’s connectivity capabilities automate the loading of back-to-back FX forward and swap transactions, which are executed on an FX trading platform.
“We’re making treasury work easier for companies all over the world and are happy to have delivered on Jemena’s core treasury objectives. We’re thrilled to have energy/utility leader Jemena part of our global client community,” says Robert McGuinness, Director of Sales, APAC at GTreasury.
To find out more about GTreasury, please visit www.GTreasury.com or emailMarketing@GTreasury.com.