FXall, the leading portal for online foreign exchange trading, and Linedata Services, the global financial technology solutions provider, today announced that they have signed a partnership agreement. The alliance will create a direct interface between FXall and Linedata's LongView Trading, allowing trades to flow seamlessly between the two platforms.
The partnership combines FXall's strength in foreign exchange trading with Linedata's expertise in delivering STP solutions to the investment management community. LongView Trading offers global asset managers comprehensive portfolio management, compliance and trading functionality in a straight-through processing environment. Like FXall, it is FIX compliant, and facilitates streamlined electronic trading with FIX connections across all asset classes.
Integrating LongView's asset management functionality with FXall's online FX trading capabilities will enable buy-side clients to automate the entire transaction lifecycle, from pre-trade compliance to settlement and accounting. Clients using LongView will be able to receive FXall's online deal information direct to their desktops, before executing and importing deals into the LongView trade order management system. The deals are then automatically confirmed and settled in a process that dramatically enhances efficiency and reduces processing costs.
The agreement is part of FXall's Partner Channel Program, which brings together FXall with portfolio and treasury management systems vendors to deliver straight-through processing to their clients. The Program validates vendors’ STP capabilities and provides them with technical support and consultation to ensure end-to-end integration between their platforms and FXall. More than 35 firms have joined the program to date.
Annie Morris, senior vice president of product strategy at Linedata Services, says: "We continue to enhance our real-time electronic trading options across all asset types for our clients. Our partnership with FXall means that we can provide our foreign exchange clients with a new streamlined workflow to automate communication with their dealers."
Phil Weisberg, CEO, FXall, says: "We are committed to providing all our users with true straight-through processing. For us, that means an end-to-end solution that automates every stage of the transaction process, eliminating the need for manual intervention and radically reducing risk. Our Partner Channel Program is indispensable to this goal. By working together with leading treasury and portfolio management systems such as Linedata, we are able to extend the benefits of straight-through processing to a rapidly growing number of corporates and buy-side institutions."