NEX Optimisation and Baton to create new post-trade FX channel

Source: NEX Group

NEX Optimisation, which helps clients reduce complexity and optimise resources across the transaction lifecycle, announces today that Baton Systems (“Baton”), a high-speed payments infrastructure provider, has joined NEX Infinity as the first third party to provide its services through the platform.

NEX Optimisation and Baton have been working in partnership alongside an existing large, multi-national bank client of NEX to deliver a new post-trade solution for FX spot transactions delivered through the NEX Infinity platform. The solution combines NEX Optimisation’s existing matching and confirmation services and enriches the resulting client data with Baton’s settlement and payments services. The solution will go live in Q1 2018.

Facilitating faster asset movements with and between banks, Baton’s real-time settlement and payments services complement the services provided by NEX Optimisation. Combining these services creates one end-to-end solution that solves the client’s post-trade needs, including operational and balance sheet challenges, while allowing them to optimise their resources more efficiently. Delivering the new solution over NEX Infinity ensures the client can access the solution through one connection, without on-boarding a new vendor and with minimal changes to its infrastructure.

Andrés Choussy, Head of Trade and Portfolio Management, said: “We’re delighted that Baton has joined NEX Infinity as the first third party to sell its services through the platform. Baton is different from other blockchain-enabled payments companies because they move real assets to real bank accounts in real time. This new partnership is exciting because it increases the value of existing services provided by NEX Optimisation and solves the post-trade needs of our client. The new FX post-trade solution has the potential to deliver real transformation for the industry, cutting costs and making it more efficient.”

Arjun Jayaram, Founder and CEO of Baton Systems, said: “As a recently established payments technology company, partnering with NEX Optimisation and joining the NEX Infinity platform was a no-brainer for us. It allows us to provide an end-to-end post-trade solution to our clients, while providing us with the opportunity to grow our client base by giving us exposure to NEX Optimisation’s clients. We look forward to working with NEX Optimisation to help solve our client’s challenges and bring the new solution to the wider market”.

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