FXall's Settlement Center has set the standards in post-trade processing for some time now, but we constantly search for new ways to improve our service. We have now developed further valuable functionality, based on feedback from our customers.
Prime Brokerage
Active traders benefit from prime broker messaging. Asset managers gain automated messaging with standardized MT304, MT202 and MT210 message formats, plus automatic settlement instruction notification. Corporations can confirm Money Market deals across the portal. And they'll find split payments easier to accomplish than they have ever experienced.
Third party services
Prime brokers, custodians, investors, and fund administrators need to know what's going on. Settlement Center answers the call:
Prime brokers: automatic give-ups - and reverse give-ups
Settlement Center's Prime Brokerage package notifies your prime broker of give-ups on all FX transactions. The service automatically processes trades executed over FXall or off-platform. Uniquely, Settlement Center delivers a crucial part of the process: a timely give-up receipt verification message from the prime broker. This provides official notification of the exact risk on any deal - immediately - and you needn't worry about the status of your give-up changing at some later stage.
Custodial Notification
Custodial notification made easy
FXall developed a comprehensive solution for automating notification to the world's largest custodians. Settlement Center handles MT304 notification messages and MT200 series payment messages. This functionality is seamlessly integrated into Settlement Center's confirmation and netting modules so that messages are sent automatically when needed.
Fund administrators, investors and others
Settlement Center has a solution to notify any authorized third party. Customized reports and QuickConnect integration deliver the information in the format required, when it's needed.
Settlement instruction database
For many asset managers, notifying the custodian after each trade is only half the headache of third party dealing. The other half is maintaining detailed settlement instructions for each currency needed by the custodian to settle with each provider. FXall has solved this problem for the industry by creating a database of settlement instructions maintained by the providers themselves. Settlement Center automatically attaches the appropriate information from the database to each outgoing custodial notification.
Money Market confirmations
FXall's extensive expertise in STP for foreign exchange is now available for Money Market trades. Corporate Treasurers dealing in the Money Markets can now gain all of the proven benefits they have experienced in FX: fewer processing errors, reduced transactional risk and higher efficiency.
Split Payments
Split payments
A number of corporate customers asked us to create a simple method of dealing with split payments.
Now you simply choose the number of splits, select amount and settlement instructions for each (either standard or ad hoc instructions) and 'save', creating a split request. The Request is approved by a customer checker then sent to the provider who views it on-line and accepts the amounts and the settlement instructions. Another administration headache cured.
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