bceaonews
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2009-08-18 |
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BCEAO opts for CMA's Depo/X solution
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| Today CMA announced that it has signed a contract for the provision of its DEPO/X solution (Central Securities Depository) to the Central Bank of West African States (BCEAO - Banque Centrale des Etats de l'Afrique de l'Ouest ). |
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Stockholm, July 7th, 2009. The award of the contract was a result of public procurement in which CMA has participated along with other international companies. Since 2004, BCEAO has been using CMA's Real Time Gross Settlement system, which unifies 8 countries in West African region, namely Bénin, Burkina Faso, Côte-d'Ivoire, Guinée Bissau, Mali, Niger, Sénégal and Togo.
CMA's PIE (Processware Integrated Environment) based DEPO/X - is an advanced Central Securities Depository system, one of the many objectives of which is to minimise specific post trade risk exposures suffered by investors when investing in the related country and holding their securities in the depository. "We are very happy to be able to provide yet another solution to BCEAO - our respected client" - as per Mr. Jean-Francois Dumas, Managing Director, CMA France - "current global demand among central financial institutions for a CSD, shows that BCEAO, as before, tends to be on-par with the most modern payment system technologies, and CMA is proud to be here for its clients with always newer and more innovative solutions". |
