TwoFour Systems, a specialist provider of global real-time Foreign Exchange ("FX") and Cash Management software for the financial services industry today announced that its flexible FX software solution has been licensed by a large European Bank's Wealth Management division to support the post-trade management of its FX and structured FX products.
TwoFour will be utilized to support the management of FX data between an internal position management system and an external statement production system. Products supported will include FX, FX options and dual-currency deposits (DCDs). TwoFour is replacing older proprietary technology currently in place at the Bank.
The Bank's Wealth Management division selected TwoFour for its real-time data processing, vertical and horizontal scalability, ease of use, and modern technical architecture. TwoFour's extensive flexibility and ability to be deployed in a componentized fashion also provides the Bank with a solution that can easily expand to replace other internal FX systems.
"TwoFour continues to show that our solutions can support large global trading organizations as well as regional and smaller-scale outfits. Our technology is contemporary, flexible, scalable, and capable of adapting to your business whether it is focused on agency-style trading or large scale global operations," said Chris Davis, co-Founder and Managing Director for TwoFour. "Our usage of contemporary technology allows our solutions to be deployed rapidly to meet aggressive timelines."