Germany's HypoVereinsbank (HVB) is rolling out City Networks' CityNet Conversation Checker module at its London branch.
City Networks says the module will verify 700 Reuters conversations a day, coming from several servers.
The product automatically generates a deal ticket for trade conversations, whilst capturing and storing all conversations electronically. It also records all system actions and events and the conversation checking process is managed by users from a status screen.
HVB Group was previously using an electronic repository for its Reuters deals and conversations. This allowed for the conversations to be stored but not automatically checked. CityNet says its module removes the manual process from the verification of conversations.
John Bevil, from the FX and MM settlements department at Hypovereinsbank, says: "The importance of a fully automated and audited conversation trail is a priority in improving the quality of our conversation deal process.
"The reduction in risk, manual effort, and duplicity of operations associated with installing the product is of utmost value in increasing our STP capabilities."