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Energy Holding Company PPL Prepares for the Future with Wall Street Systems

^{Published on 2010-05-10 06:11:43 - Market Wire}
 

NEW YORK & LONDON--([ BUSINESS WIRE ])--Wall Street Systems (Wallstreet), the global provider of treasury, trading and settlement solutions and services, today announced that it has been selected as the next-generation treasury solution for PPL Services Corp., a centralized service subsidiary of PPL Corporation (NYSE: PPL). Wallstreet Suite will enable PPL to manage and integrate their highly complex and sophisticated treasury operations on a single automated platform. PPL sells energy in key U.S. markets, and delivers electricity to customers in Pennsylvania and the United Kingdom.

"The simplification of our treasury operations onto one strategic platform gives us complete transparency and control of cash, the ability to manage our interest rate and currency exposures, improve liquidity planning, enhance regulatory reporting and provide end-to-end coverage of the entire operation"

With over 1.4 million domestic customers, PPL has an extremely large influx of payments to handle. PPL deemed Wallstreet Suite the easiest solution to integrate into their settlement system. A key driver of the selection of Wallstreet was PPLa™s goal to manage a complex operation on a single, reliable platform with strong reporting and integration tools. With Wallstreet Suite, PPL can automate the management of cash as well as the valuation, and accounting for their debt, FX and investment portfolio, including complex instruments.

aThis was a strategic selection that involved an extremely in-depth and rigorous vetting process on the part of PPL,a said Mark Lewis, Director, Corporate Treasury, Wall Street Systems. aPPL operate a highly sophisticated Treasury environment. This involves constant risk analysis and benchmarking. Consequently their needs are both precise and exacting. Given PPLa™s expertise, we are pleased to be selected as the best and most thorough solution in the industry.a

Another important driver for the decision is that Wallstreet Suite enables PPL to proactively address the SEC reporting requirement in IFRS tentatively scheduled for 2015. According to the edict, all organizations involved in international operations will need to report in IFRS standards. Wallstreet Suite is able to provide clients with automated, multiple GAAP and IFRS accounting from any single transaction, enabling PPL to meet its future IFRS requirements.

aThe simplification of our treasury operations onto one strategic platform gives us complete transparency and control of cash, the ability to manage our interest rate and currency exposures, improve liquidity planning, enhance regulatory reporting and provide end-to-end coverage of the entire operation,a said Linda McDonald, Manager: Financial Settlement and Controls, PPL. aWe found Wallstreet capable of supporting our objectives and developed a high degree of confidence in their delivery expertise.a

About Wallstreet

Wall Street Systems (Wallstreet) provides functionally rich, integrated and scalable solutions for improved workflow, control and overall productivity for corporate treasury, central banking, FX trading and global back office operations. Wallstreet is the market leader in FX trade processing and through its award-winning products, including Wallstreet Suite, Wallstreet Treasury, and Wallstreet FX, the company processes millions of transactions, aggregating to trillions of dollars, every day.

With a 20 year heritage, Wallstreet has an outstanding reputation for quality and responsive service, and prides itself on helping its clients achieve long lasting benefits and results. Its 550 employees service over 300 banking, corporate and central bank clients, operating out of 12 offices worldwide. The company is a privately held corporation, and is majority owned by Warburg Pincus, a global private equity investor. For more information, please visit [ www.wallstreetsystems.com ].