TwoFour, a product and services company focused on providing treasury, FX and cash management solutions, today announced that FCStone has successfully completed its implementation of the TwoFour System.
With FX volumes continuing to increase and the ongoing scrutiny of risk management practices, this implementation will position FCStone competitively for future growth.
Prior to the TwoFour System implementation, FCStone used a series of internally developed solutions and manual processes to manage its proprietary FX positions and P&L. In order to gain a competitive advantage, FCStone sought a new solution to monitor these positions and rates in real-time - to better manage its trades and reduce risk. The key stakeholders had previously used the TwoFour System and knew that TwoFour could effectively manage FCStone's high volume FX cash and futures activity.
FCStone is now using the TwoFour System for trade processing, position and risk management for foreign exchange (FX). With access to trade-dependent information in real-time, FCStone's traders can now make more effective trading decisions. FCStone's management will also benefit from having access to risk information in real-time, 24x7, which was not previously available.
Edgar Ramon, Global Head of Foreign Exchange at FCStone Forex, said: "We are committed to taking the necessary steps to position FCStone for profitable growth. With this implementation, our traders will have access to information in real-time and be able to make more effective trading decisions. We selected the TwoFour System due to the scale of its functionality for trading support. We are already seeing a positive ROI and are confident that TwoFour will be able to provide the support we need going forward."
The TwoFour System is live in FCStone's Chicago office. The solution has real-time interfaces to third party systems for trade confirmations and rates. In the front office, traders use the system's real-time blotters to effectively manage and cover trade positions. The middle office can monitor the blotters from a risk perspective.
Chris Davis, co-founder of TwoFour, commented: "This implementattion is another strong endorsement of TwoFour's ability to support high frequency trading businesses. In this economic environment, our clients are seeking effective solutions to increase profits and improve risk management and transparency. FCStone recognized the need for real-time position and P&L information, as well as flexible blotters. As a result, it is now benefiting from high performance FX and financial futures trade processing and associated customized workflows."