Reuters to adopt Twist standard for corporate STP
25 May 2005 | 8324 views | 0
Reuters is collaborating with industry standards group Twist to develop an STP interface for corporate treasurers using its new RTFX foreign exchange trading service.
Reuters says the development of an RTFX Twist interface will enable corporates to receive real-time post trade notifications directly into their internal trade processing systems, avoiding the costs and errors associated with less integrated trade capture methods.
The news and information group says it will continue to use its internal data model to store and represent completed trades, but will offer Twist as one of the standard formats used within post trade STP workflows. Initially, the implementation will provide completed trade affirmations using the Twist protocol from the RTFX platform.
Tom Buschman, chairman of Twift, says: "Reuters support for Twist in their RTFX initiative helps enable the interoperability that corporate treasuries are demanding."
The RTFX platform was introduced to the corporate market in concert with 14 market-making banks earlier this week.