INTL FCStone Global Payments Division Enhances FXecute Payments Platform
- The company has added streamlined payments functionality for banks further simplifying the money management process.
INTL FCStone today announced that its Global Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term Division (GPD) has enhanced its proprietary FXecute global payments technology platform with the addition of streamlined functionality, aiming to Bridge Bridge The bridge or liquidity bridge is an essential component for brokers that are enabling their clients to trade at interbank rates directly via a Prime Broker or a Prime-of-Prime (PoP). While market makers do not require a bridge in order to service its clients, brokers which are sending through orders to a liquidity provider or an electronic execution venue need a bridge to connect their trading platform to the interbank market.Bridges are used extensively in forex trading, specifically for Metat The bridge or liquidity bridge is an essential component for brokers that are enabling their clients to trade at interbank rates directly via a Prime Broker or a Prime-of-Prime (PoP). While market makers do not require a bridge in order to service its clients, brokers which are sending through orders to a liquidity provider or an electronic execution venue need a bridge to connect their trading platform to the interbank market.Bridges are used extensively in forex trading, specifically for Metat Read this Term its clients' foreign exchange and payments services.
The new functionality is introduced less than a month after the company launched a financial information exchange (FIX) protocol, now integrated with its proprietary FXecute global payments platform, as reported by Finance Magnates.
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Enhanced Solution
FXecute is a one-stop solution for making payments, giving clients access to live currency market rates which can seamlessly execute payments in over 140 currencies, including around 90 exotic currencies.
The enhanced and customizable solution can easily adapt to each client's internal procedures whilst ensuring that they are maintaining proper controls for their international payments.
The system also provides integration solutions via GPD's Web Services API which clients can use to retrieve rates and execute trades. Additionally, FXecute now enables clients to make payments using the local ACH system, ensuring seamless and less expensive payments while eliminating execution gridlocks.
The company has onboarded a multitude of its correspondent bank partners in developing countries for ACH functionality in order to provide uninterrupted payment delivery in local currency for those clients sending money to these markets.
Carsten Hils, Global Head of INTL FCStone's Global Payments Division, commented, "Payments technology changes at a rapid pace, and these additions to FXecute ensure that it remains the industry-leading payments execution service for exotic currencies. We have utilized our more than 20 years of experience in providing payments to the developing world, as well as the expertise of our best-in-class information technology team, to provide our customers with an even more efficient, secure, and effective global payments platform."
Simplifies the Process
FXecute allows GPD customers to access the company's payments capabilities and allows clients to simplify their international funding operations while providing a clear audit trail and analytical reports.
The platform provides clients with the intelligence necessary to understand local market conditions, which is critical given that every country has different regulatory requirements that must be met for successful and efficient payments execution. Clients are also able to process their payrolls through FXecute in local currencies, further simplifying their money management processes.
INTL FCStone today announced that its Global Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term Division (GPD) has enhanced its proprietary FXecute global payments technology platform with the addition of streamlined functionality, aiming to Bridge Bridge The bridge or liquidity bridge is an essential component for brokers that are enabling their clients to trade at interbank rates directly via a Prime Broker or a Prime-of-Prime (PoP). While market makers do not require a bridge in order to service its clients, brokers which are sending through orders to a liquidity provider or an electronic execution venue need a bridge to connect their trading platform to the interbank market.Bridges are used extensively in forex trading, specifically for Metat The bridge or liquidity bridge is an essential component for brokers that are enabling their clients to trade at interbank rates directly via a Prime Broker or a Prime-of-Prime (PoP). While market makers do not require a bridge in order to service its clients, brokers which are sending through orders to a liquidity provider or an electronic execution venue need a bridge to connect their trading platform to the interbank market.Bridges are used extensively in forex trading, specifically for Metat Read this Term its clients' foreign exchange and payments services.
The new functionality is introduced less than a month after the company launched a financial information exchange (FIX) protocol, now integrated with its proprietary FXecute global payments platform, as reported by Finance Magnates.
The FM London Summit is almost here. Register today!
Enhanced Solution
FXecute is a one-stop solution for making payments, giving clients access to live currency market rates which can seamlessly execute payments in over 140 currencies, including around 90 exotic currencies.
The enhanced and customizable solution can easily adapt to each client's internal procedures whilst ensuring that they are maintaining proper controls for their international payments.
The system also provides integration solutions via GPD's Web Services API which clients can use to retrieve rates and execute trades. Additionally, FXecute now enables clients to make payments using the local ACH system, ensuring seamless and less expensive payments while eliminating execution gridlocks.
The company has onboarded a multitude of its correspondent bank partners in developing countries for ACH functionality in order to provide uninterrupted payment delivery in local currency for those clients sending money to these markets.
Carsten Hils, Global Head of INTL FCStone's Global Payments Division, commented, "Payments technology changes at a rapid pace, and these additions to FXecute ensure that it remains the industry-leading payments execution service for exotic currencies. We have utilized our more than 20 years of experience in providing payments to the developing world, as well as the expertise of our best-in-class information technology team, to provide our customers with an even more efficient, secure, and effective global payments platform."
Simplifies the Process
FXecute allows GPD customers to access the company's payments capabilities and allows clients to simplify their international funding operations while providing a clear audit trail and analytical reports.
The platform provides clients with the intelligence necessary to understand local market conditions, which is critical given that every country has different regulatory requirements that must be met for successful and efficient payments execution. Clients are also able to process their payrolls through FXecute in local currencies, further simplifying their money management processes.