UK Operating Centre – Our Businesses

The UK Operating Centre provides centralised operational support across the GBM Business and services predominantly our UK Corporate Client base.

The following products are supported at the UK Operating Centre:

Foreign Exchange, Currency Options, Money Markets, Client Data Management and Change Management.

Foreign Exchange (FX)

FX Operations encompasses Settlement and Confirmation for both RBS and NatWest trades as well as ensuring that trades from around the globe are settled on time and with precision.

The UK Operating Centre also looks after the processing of NDF confirmations.

We support over 800 dealers worldwide
We run a 24-hour back office for Asia, Europe & NY
We handle 65 currencies
An average of GBP250 billion settles over our books each day
Up to 80,000 trades are processed on any given day

Currency Options (FXO)

The Currency Option (FXO) Operations team is located in three sites: United Kingdom, Greenwich, N.Y. and Hong Kong.

Dedicated 24 hour ‘follow the sun model’ Middle Office support is provided to the business
On average, the Global Team supports the daily processing of 1,000 FX deals and 700 Options, split between vanilla and exotic options
FXO Global support encompasses Settlement, Confirmation, Brokerage support and a dedicated Middle Office team

Confirmations

The UK Operating Centre looks after the Confirmation processing for the FXO business with the Middle Office acting as the focal point for resolution of issues between the Trading Desk, Clients and other Operations areas.

Money Markets (MM)

Agency Treasury Solutions

Agency Treasury Solutions (ATS) is a treasury outsourcing service provided to a wide range of corporate and institutional clients. The main components of the services are FX, Interest Rate and liquidity management, coupled with a full support function - we provide processing and administrative support to clients and the Front Office.Global Treasury Fund (GTF).

GTF plc is a collective scheme designed to provide customers with either a daily or two day access product with the potential to generate high returns. GTF plc is based in Dublin and customers, therefore, enjoy benefits of offshore tax advantages. There are two sub-funds, each offering investments in GBP, USD and EUR. The GTF Operations team liaises closely with the GTF FM Sales team in London.

Treasury Reserve Fund

The team supports both the RBS and NW brands for the range of fixed term (max. 1 year) deposits, with interest rates linked to the London Money Market. Close liaison is required with Corporate Product Management and the Front Office for positioning and targeting.

Corporate Bonds

Corporate Bonds are a package of fixed term deposits – paying a guaranteed rate of interest – with an interest bonus if the deposit is renewed. 3, 6, and 12 month terms are available, and rates are set by Corporate Product Management. Corporate Bonds are available to NatWest and other bank customers.

The team liaises closely with with Corporate Product Management.

1,700 Bonds – average of 25 per day
Balances of approx. GBP480m

Retail Bonds

Retail Bonds are a range of NatWest fixed rate deposits on behalf of Retail Banking, with terms ranging from one to five years and rates set by Retail Product Management. The team liaises closely with Retail Product Management.

120,000 Bonds
Average of 250 Bonds per day
Balances of approx. GBP1.6bn
Average of 3,000 deals per day
Total book of approx. GBP13.8bn

Client Monies

Help Desk-type support for managing Client Monies. Users primarily Solicitors and customers who manage funds (in both Sterling & major currencies) on behalf of clients.

Other operations functions for Money Markets products (Middle Office, Processing, Confirmations and Client Services and Relationship Management) are outsourced to the FX Operations team.

RBS and NatWest Brands
1,850 customers with 87,000 clients
Balances of approx. GBP2.4bn

Client Data Management

The team is responsible for the management and control of GBM’s client data, from new counterparty set up through to maintaining settlement instructions for payments. For new counterparties, the team is responsible for ensuring all trading accounts within GBM undergo essential money laundering checks prior to being opened and traded with. In addition, this team is responsible for authenticating all static changes for the clients we trade with.

Client accounts are also required to be opened and maintained for each product area. This includes creating and maintaining standard settlement instructions and ensuring clients are loaded with the maximum detail to ensure settlement straight through processing rates are maximised within the product areas. Ten different system platforms are supported by this team.

Change Management

The Change Management team is responsible for managing and delivering major change initiatives into Treasury & Investor Products (TIP) Operations. Primary responsibilities include acting as the interface into IT for technology driven change, liaising with major change programmes impacting Operations, developing business cases and strategy, and delivering major process efficiency and improvement. Our project portfolio includes 15 major projects at various stages of the project lifecycle as well as a multitude of smaller initiatives.

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