Bloomberg, Cognotec, Exidio and RCP have joined the foreign exchange portal interface coalition Twist, (Treasury Workstation Integration Standards Team).
"The widespread adoption of standards in foreign exchange trading will accelerate the rate of technology adoption, which benefits the entire industry," says Brian Maccaba, Cognotec chairman. "The Twist initiative has real momentum, is driven primarily by market participants, and will have a pivotal role in ensuring true end-to-end STP.”
Twist is a working group of 19 companies formed and led by the treasury operations department of the Royal Dutch/Shell Group. The coalition brings together representatives from corporate treasury departments, large banks, leading providers of treasury workstation solutions and exchange trading platforms to develop open interface standards between treasury systems and FX trading platforms.
The group is also working with Swift, the international banking messaging and network co-operative, enabling it to extend its messaging from the banking environment to the buy-side.