Dexia selects Fundtech CLS package

Dexia selects Fundtech CLS package

Dexia Banque Internationale a Luxembourg (Dexia BIL) has selected Fundtech's PAYplus CLS software to facilitate the settlement of foreign exchange trades via Continuous Linked Settlement (CLS).

The software will provide the Luxembourg bank with a complete suite of integrated FX payments and settlement services, including access to CLS user banks, trade matching, liquidity management, reconciliation, interfaces to back-office systems, credit systems and exchange rate systems.

PAYplus CLS also supports straight-through processing by interfacing to internal bank systems to automate the entire transaction workflow - from trade matching to funding and payment scheduling - while providing tools for risk management and forecasting, says the company.

The deal marks Fundtech's first customer win in Luxembourg.

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