The Central Bank of Cyprus joins MAPS, the Treasury Management System for Central Banks provided by Banque de France and Banco de España

Friday, 20 September 2019

The Central Bank of Cyprus has selected MAPS (Market Activities Processing System) to support its market operations, including portfolio management, reserves management and FX transactions.

MAPS offers a software solution built with Calypso, global leader in Treasury Management Systems, spanning front and back-office, risk management, accounting and financial reporting functions. It also comprises a technical platform and a comprehensive set of hosting and running services.

Banque de France and Banco de España have been operating MAPS for their own needs since November 2016, gaining a unique experience in the migration, the delivery and the operation of a shared market operation software in a central bank context.

MAPS is now open to all the Central Banks of the European System of Central Banks (ESCB).

Nathalie Aufauvre, Director General, Financial Stability and Operations, Banque de France:

“MAPS provides all front to back services and functions required by a Central Bank. MAPS is a shared, scalable and customizable solution that optimizes Treasury Market Operations, reduces operational risks and preserves security and confidentiality, building upon central banks’ best practices. As such, it delivers the first building blocks for a common platform accessible to all members of the ESCB.”

Juan Ayuso, Director General, Operations, Markets and Payment Systems, Banco de España:

“MAPS is designed to fulfil the needs of a central bank, preserving our specific structure and accounting systems. It provides an integrated solution that allows flexible definition and monitoring of risks and limits, an improved control of cash and portfolio positions, and an exception-based approach with real-time information on every trade, every confirmation and every settlement instruction.”

Kyriacos Stavrou, Acting Senior Director at the Central Bank of Cyprus (CBC):

For the CBC, MAPS is a unique solution which fully covers our requirements. It serves the CBC, both as a preconfigured application, as well as a set of predefined support and development services. Working closely with MAPS Teams, we are comforted by their knowledge of our different business activities and by the way these activities are perfectly accommodated via the global solution that is brought by MAPS.