Twist, the Treasury Workstation Integration Standards Team, has published the second version of its proposed interface for linking to FX trading platforms at the company's new Web site, launched today.
Twist has been working with the FpML FX Products Working Group to encourage straight through processing (STP) between corporate treasury systems and foreign exchange (FX) trading platforms. The company is also working with the interbank network Swift (Society for Worldwide Interbank Financial Telecommunication) to promote harmonisation of emerging standards.
Specifications of the Version 2 interface include detailed instructions for foreign exchange trading, including trade and settlement confirmation, new trades, collections of trades, amendments, cancellations, allocations, rolls, aggregations, and split settlements.
Twist issued the first version of the treasury system interface standard in May of this year. Several Twist members are already using interfaces based on this standard.
Tom Buschman, treasury development manager for Shell Treasury Centre, comments: "The extended version of the standard allows all market participants to achieve operational efficiencies, improved controls, and cost savings through interoperability based on an open set of standards."
Twist is also reporting the recruitment of two new members to its 15-strong global company membership - Reuters and tapX. Other participants include the founding member Royal Dutch/Shell Group’s treasury operations department, alterna Technologies Group, Inc., Barclays Capital, Currenex, Integrity Treasury Solutions, Thompson Financial, PricewaterhouseCoopers, Richmond Software, SimCorp, SAP, Selkirk Financial Technologies, Trema, XRT, and Wall Street Systems.