UBS Warburg has implemented Trema's Transaction Hub Service in a bid to enhance its global foreign currency trading infrastructure, Fx2B.
Each time a deal is executed through Fx2B, UBS Warburg's customers, such as Ericsson (which is already live), will have their trading positions updated automatically on a real-time basis in Finance Kit (Trema's treasury, risk and asset management system), via the Trema Transaction Hub Service.
The integration will minimise operational risk through the reduction of multiple systems and will eliminate the need to update positions on a manual basis, say the companies.
According to Andy Amschwand, global co-head of the interest rates and foreign exchange division of UBS Warburg: "Fx2B connected to the Trema Transaction Hub service means our customers get efficient straight-through processing coupled with the simplicity of a single interface."
In a separate announcment, Currenex and Trema are showcasing a straight-through-processing interface at the EuroFinance International Cash & Treasury Management Conference, in Madrid.
The interface will allow users of Finance Kit to automatically receive trade and settlement details from Currenex's FXtrades multi-bank currency exchange via the Transaction Hub Service. The interface is based upon the Twist standard, which both both companies have helped develop.
Once a user executes a deal on the Currenex service, the integrated solution will automatically update the user's trading position in foreign exchange spots, swaps, and forwards in Trema's Finance Kit.
Jim Kleckner, vice president products and development at Currenex, comments: "Real-time automatic updates between these systems will increase efficiency and streamline treasury operations, providing long-term value for our members, and ultimately for all FX market participants as more systems integrate with each other."