ICAP plc issued a press release yesterday announcing that its European money market fund (MMF) portal MyTreasury has been awarded the 2009 Treasury Management International MMF Dealing Portal award, "the second consecutive year that MyTreasury has won this award, as voted by the readers of TMI", a London-based Treasury magazine. (See our January 2008 News brief, "ICAP's MyTreasury.com European Money Market Portal Launches.")
The release says, "MyTreasury has seen a 300% growth in the number of users between April and October 2009. The diversity of the MyTreasury user base, ranging from small local authorities with one or two fund accounts to global organisations with over 50 accounts, also illustrates the unique combination of simplicity in use and powerful risk control that users value so highly."
It adds, "MyTreasury is the only MMF portal provider integrated with the fund administrators and as a result is the only provider able to offer fully automated trade execution. Investors using MyTreasury receive major benefits from the MyTreasury/SWIFT automation service which eliminates all manual processing and potential trading errors, failure and other inefficiencies that inevitably occur with manual intervention."
Justin Meadows, Chief Executive of MyTreasury, said "We are delighted to receive this award for the second year running and believe that it is recognition of both the high technical quality of our platform and the comprehensive support we provide to all our users. We are now building on our success and have begun a development programme to extend operations into new regions and products, including onshore MMFs, Term Deposits, Certificates of Deposit and FX in the short term."
