Corporate Finance, DeFi, Blockchain, Web3 News
Corporate Finance, Fintech, DeFi, Blockchain, Web 3 News

Treasury and Risk Management: Dubai Aluminium Selects SunGard’s AvantGard

Dubai Aluminium (DUBAL), one of the world’s largest single site aluminum smelters and the industrial flagship of the United Arab Emirates, has selected SunGard’s AvantGard Treasury (Quantum) for treasury management and hedge accounting. The solution will also help DUBAL manage foreign exchange, interest rate and commodity risk.

Moving from a spreadsheet driven environment to an automated integrated solution will allow DUBAL to efficiently manage, control and report on all of its treasury activities while helping provide increased transparency, enhanced data integrity and improved integration with internal systems. SunGard’s AvantGard Treasury (Quantum) will complement DUBAL’s enterprise-wide risk management initiative through integration with SAP Exposure Management for the identification of commodity and foreign exchange exposures.

Corporate treasurer and chief risk officer at DUBAL, Toby Shore, said, “We sought a treasury management system (TMS) to help us mitigate financial risks and address security concerns resulting from the use of spreadsheets. We chose SunGard because its system provided this as well as being easy to integrate, and also because of SunGard’s strong reputation in the Middle East. The flexible, configurable reporting capabilities of SunGard’s AvantGard Treasury (Quantum), its complete coverage of complex instruments required for hedging, and its ability to accommodate our need for SAP-integrated risk management were also deciding factors.”

Wissam Khoury, managing director of SunGard Middle East said, “DUBAL’s treasury modernization project aligns with the roadmap of many corporate treasury teams across the Middle East who share the goal of automation and centralization. To achieve these goals, it’s imperative for treasuries to partner with solution providers that understand the regional and cultural nuances of the Middle East and who have a strong local presence. DUBAL joins a growing list of customers in the region who recognize the value of SunGard’s AvantGard treasury solutions and its expertise.”

About Dubai Aluminium
Dubai Aluminium ("DUBAL") owns and operates one of the world's largest aluminium smelters. Built on a 480-hectare site in Jebel Ali, the complex's major facilities comprise a one million metric tonne per annum primary aluminium smelter, a 2,350 megawatt power station (at 30°C), a large carbon plant, casting operations with a capability of more than one million metric tonnes per annum, a 30 million gallon per day seawater desalination plant, laboratories, port and storage facilities. Entirely state-owned, DUBAL is one of the largest non-oil contributors to the economy of Dubai and is widely regarded as the industrial flagship of the UAE. Having begun to tap metal at the Jebel Ali site in November 1979, DUBAL celebrated its company's 30th anniversary in 2009. For more information, visit

Through our network of over 30,000 people in 1,000 laboratories and offices in 100 countries, Intertek provides quality and safety solutions to a wide range of industries around the world.Through our network of over 30,000 people in 1,000 laboratories and offices in 100 countries, Intertek provides quality and safety solutions to a wide range of industries around the world.About SunGard’s AvantGard
The AvantGard solution suite includes credit risk modeling, collections management, treasury risk analysis, cash management, payments system integration, and payments execution delivered directly to corporations or via banking partners. AvantGard solutions help consolidate data from multiple in-house systems, drive workflow and provide connectivity to a broad range of trading partners including banks, SWIFT, credit data providers, FX platforms, money markets, and market data. The technology is supported by a full range of services, including managed cloud services, treasury operations management, SWIFT administration, managed bank connectivity, bank on-boarding, and vendor enrollment, and is delivered by a team of domain experts. For more information, visit

About SunGard
SunGard is one of the world’s leading software and technology services companies. SunGard has more than 17,000 employees and serves approximately 25,000 customers in more than 70 countries. SunGard provides software and processing solutions for financial services, education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software. With annual revenue of about $4.5 billion, SunGard is the largest privately held software and services company and is ranked 480 on the Fortune 500. For more information, please visit

Lundi 15 Octobre 2012