Treasury management systems supplier SimCorp is to provide straight-through processing from its IT/2 system to the FXall multi-bank price discovery and trade execution platform.
The joint development of a new Internet interface will enable IT/2 customers to access online deal information from FXall’s intranet and then execute and import deals into their treasury system. The deals will then be automatically processed, enabling settlement, risk analysis, cash management and reporting.
"The ability for our customers to trade in FX on the Internet is becoming increasingly important for them. Our partnership with FXall fulfils this need,” says Niels Beck, managing director of SimCorp (IT/2). "FXall is one of the few live portals that supports quick automated pricing."
The agreement with FXall follows an earlier interface arrangement between SimCorp and independent portal Currenex.