FX industry specialist RCP and 360T, the global provider of web-based trading technology for OTC instruments, integration solutions and related services, have announced their alliance to launch a new service for 360T's clients, offering RCP's solutions in conjunction with B2Hub.
This will go a long way to reducing post trade settlement issues for financial institutions and allow 360T's clients, including corporate, market-maker banks and institutionals, to receive electronic trade confirmations from multiple trading venues via a single connection, in a user-specified format so that, irrespective of which venue they deal with, the confirmations are formatted at the hub to match the input requirements for the client's back office systems.
The other benefit this will offer to 360T's clients is RCP's bi-directional facility allowing them to receive other STP post-trade services from 360T.
Alfred Schorno, Member of the Board at 360T, commented: "We are delighted to add RCP/B2Hub to our existing global offering, allowing clients to trade with greater cost effectiveness, transparency and control at every stage of the trading lifecycle."
Phil Boland, CEO of B2Hub, the Luxembourg-based experts in straight through processing, stated: "This alliance provides an excellent opportunity for the market to access this combined first-class technological solution which, according to our research, is desperately needed."
Paul Burgess, head of strategy at RCP, added: "We now have the ability to provide rapid, cost-effective solutions to any bank's internal and external STP and messaging requirements."