The Central Bank of Uruguay (BCU) contracts CMA for the provision of a Real Time Gross Settlement and a Central Securities Depository solution

Banco Central del Uruguay (BCU) has chosen CMA of Sweden (http://www.smallsystems.cma.se), a partner of SOFTRON Uruguay, for the design, supply, installation and initial configuration, implementation, training, guarantee, support and maintenance of a Real Time Gross Settlement (RTGS), a Central Securities Depository System (CSD) and related applications.

Established 30 years ago, SOFTRON has a thorough understanding of the regional technology market, where it operates directly with offices in Uruguay, Argentina & Chile. Additional information may be find at softron.biz.

CMA is a market leader provider of systems solutions to companies operating in financial markets.

CMA’s solutions will

• Guarantee the strength and irrevocability of payments and settlement of securities in the current accounts of players in the BCU and in the CSD securities position records.
• Implement the risk control associated with the settlement of funds in the RTGS and the CSD securities positions.
• Guarantee that the processed operations fully comply with the basic CPSS principles for the Payment Systems of Systemic Importance and the CPSS-IOSCO Recommendations for the Securities Clearing and Settlement Systems.

CMA will use SOFTRON resources throughout the project implementation, and for the provision of the first line of support after the systems will go into live production.

BCU has defined its mission as being: “To establish an adequate framework for financial growth via a proactive use of monetary and exchange instruments geared to price stability. To promote the stability, integrity, transparency, efficiency and development of the financial and Payment System in order to provide better access for the community”.

CMA commented:

“We are very proud of this achievement since our solutions met all the strict requirements of the BCU and because it is our first project in Latin America” – as per Oleg Kojevnikov, Business Development Manager, CMA. “We are happy to count the Central Bank of Uruguay to our clients and we will pledge our utmost commitment to this client in order to make this project a complete success”.