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Products - Advanced risk management for the financial infrastructure from CMA

CMA Financial and Cross Industries Solutions


CMA offers a full range of solutions covering all major components of a country-wide financial infrastructure. The solutions are geared to facilitate the issues Central Bank needs to address in the implementation of financial infrastructure in whole or individual components. They offer advanced risk management, monitoring and control possibilities, and integration facilities into Financial Market infrastructure. All system can be integrated with each other to provide fully integrated solution for in-country financial market. Interfaces to new and future systems are supported by a special component, Integration Bus that is responsible for smooth and seamless integration with other systems basing on business interaction model defined. All systems support SWIFT formats. This family of software products includes:

Solutions for Capital Markets

  1. RTS/X: Full-functional multi-currency Real-Time Gross Settlement system (RTGS) intended for national banks: this system enables interbank payments and provides enhanced risk and liquidity management for national payment systems. In addition, RTS/X together with a set of built-in functional plug-ins provides a functionality of a multi-purpose payment system (rather than a pure RTGS application) with several successful implementations on that field.
  2. BCS/X: Full-functional ACH system that supports direct credits and direct debits as well as check processing.
  3. DEPO/X.  Full-functional Central Depository System (CDS) intended for central depositories, stock exchanges, settlement banks and custodians.
  4. AUCT/X. Open Market operation system for support of auctions of all major types and styles intended for support of remote auctions by Central institutions and other authorized entities.


Solutions for Trading

  1. TRAD/X. Automated trading system for commodity, stock and currency exchanges, investors and brokers, including trader workplace systems and access to real-time market info.
  2. WEB2L. Web-based tool for remote access to capital markets. It enables brokers, and their clients, to trade securities and to collect on-line market data, such as quotes, from different financial information sources in multiple markets.
  3. CSS/X. Full functional commodity clearing system intended for financial institution supporting operations on stock exchanges including central counterparty business models.


Solutions for Cross Industries

  1. PIE. PIE® is an Enterprise Application Integration and Development tool that enables integration of diverse applications in a particular company. PIE is suitable for real time business environments on capital markets as well as in other major industries.
  2. SNG/X. Payment portal for message routing, cash management and reporting intended for financial institutions, corporate and other clients wishing to harmonise their in-house financial infrastructures and integrate them with external message carriers like SWIFT and SWIFTNet.
  3. AINS/X. Direct Loss Settlement solution for liability insurance providing Motor Insurers with data about insured accidents and their mutual settlement via a settlement centre.


All systems are based on a modern component-based business process driven approach and have similar application, technical and hardware architecture. The design approach of CMA systems is based on CMA PIE® product. The business-driven approach implemented in PIE allows for alteration of business logic without re-programming applications and for the quick and effective reaction to the rapidly changing requirements of the market. With a business-process engine as the underlying component of the solutions, new functionality can be added as easily as a new business process can be designed.
Security and control are two of the key design elements of the systems. Regardless of what control may be put in place today, it is also important for the system to be sufficiently flexible to add other controls or modify current ones as regulatory and market conditions and processed functionality changes. All aspects of the system, from the web-based browser to a choice of communications connectivity network to integration with multiple source systems, are open and designed with flexibility in mind.
Management of costs is provided through the use of web-based services, which concentrate system management centrally and dramatically reduces the effort for Participants. Cost savings are also achieved because a common central platform can be used to provide not only the functionality currently required, but any other business-process driven actions. For instance, if the banking community wishes to include SWIFT network option, this can easily be incorporated within the management provided by the systems. Cost savings are achieved since systems have the same application and architectural design