TwoFour, a specialist provider of global real-time financial software solutions and a trusted consultancy to the world's premier financial institutions today announced that INTL Global Currencies Ltd. (IGC), a wholly owned subsidiary of INTL FCStone Inc. (INTL), has agreed to license TwoFour's FX and CM solutions.
IGC specializes in transferring funds to the developing world and provides customized foreign exchange and treasury services to international aid and development organizations, UN agencies, government agencies, NGO's, religious entities, multinational corporations, and financial institutions in more than 150 countries. This agreement is a significant expansion of the use of TwoFour within the INTL FCStone organization, with the IGC division licensing users in offices in New York, London, Singapore and Orlando.
IGC will use TwoFour in both the front and back offices for real-time trade and payment processing. TwoFour will enable IGC to capture, aggregate and process all FX trade activity with a much higher level of STP than the current system. IGC will leverage TwoFour's customizable workflow engine that includes special cues for exception management that will yield a low touch trade processing environment. These cues flag and prioritize critical issues that require immediate action and bring them to the attention of IGC's operations staff via TwoFour's dashboard functionality. All activities that can be processed through the workflow without incident are completely automated.
"TwoFour was selected over other vendors because of its workflow based, real-time technology," said Carsten Hils, Director of IGC. "Our decision was also based on TwoFour's consistent delivery of reliable, high performance FX solutions, its tailored, attentive, high quality customer support and an ongoing track record of delivering successful projects to INTL."
INTL has been a client of TwoFour's since May of 2008, when the TwoFour FX position keeping component of TwoFour's solution was licensed and deployed in Chicago to manage FX and FX Futures. In subsequent years, INTL has expanded its usage of TwoFour to its FX Prime Brokerage business. In 2011, INTL continued to develop their relationship with TwoFour by expanding usage of TwoFour FX to its London and New York ok offices in support of their FX Options and Metals trading businesses.
"TwoFour is currently deployed at INTL and recently completed a successful expansion project of its TwoFour FX solution. Over the years and throughout multiple projects, our technology has proven flexible and able to adapt to the changing needs of INTL," said Chris Davis, cofounder of TwoFour. "We have proven that we can quickly deliver complex projects that exceed expectations and we are pleased to now bring the same quality solutions and level of service to IGC."