Multi-bank foreign exchange portal FXall and treasury technology firm Trema have implemented a live link between their respective platforms.
The two companies have implemented a real-time link between the FXall platform and Trema’s Finance Kit, enabling integration between pre- and post-trade systems. Finance Kit users who execute deals at FXall now automatically receive trade and settlement details via Trema’s Transaction Hub services.
Denmark-based shipping firm A.P. Møller was the first customer to achieve straight-through processing by using the link between FXall and Trema.
Jørgen Engell, executive vice president and head of finance at A.P. Møller, says: “We are pleased to achieve straight-through processing thanks to the link between FXall and Trema. We can now handle foreign exchange transactions in a completely integrated model. We will save time and further reduce the risk of errors.”
The straight through processing link is based on a protocol jointly developed by FXall and Trema. Through its Partner Channel programme, FXall says it is in the process of establishing protocols with a number of vendors to ensure the rapid achievement of straight through processing in the foreign exchange market.