Peter Shea of Salmon Software discussed the factors that a Treasurer should consider while transitioning to Sonia. The presentation included the following:
- Brief history of SONIA
- Background of Salmon Software
- Collaboration with UK clients to understand the SONIA requirements
- Development of new modules to accommodate SONIA (interest calculations and accruals)
- Live demo of the Salmon Treasurer application which show how the SONIA interest and accruals are managed:
o Daily SONIA interest Rates
o Loan Management
o Interest Accruals
o Interest Dashboards
The purpose of the demo highlighted the many challenges that need to be overcome for people considering using Excel as a tool to manage SONIA based instruments.