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.