360T, Deutsche Börse Group’s affiliated FX trading venue and provider of web-based trading technology for over-the-counter (OTC) instruments, has launched a new partnership with BELLIN, a group providing web-based treasury software and services, according to a 360T statement.
In particular, 360T will work with BELLIN to offer a newly tailored solution that helps cater to both corporate treasuries and banks, thereby allowing for the automation, exchange, and management of deal confirmations for their respective foreign exchange (FX) and money market deals via 360T’s existing TEX trading platform.
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The TEX trading platform is 360T’s multi-bank portal that connects non-toxic, non-anonymous flow in multiple financial instruments. The platform itself is utilized by banks, broker dealers, corporate treasuries, and institutional participants trading a multitude of instruments including FX, money market, interest rate derivatives and other OTC instruments.
As such, a freshly integrated deal between the two venues will also foster client deliveries to all trades from 360T´s multibank platform to the confirmation system, also supporting the transmission of transaction data to bank. These messages will be sent through a consolidated SWIFT connection directly to and from the banks and are automatically processed in the system.
According to Alfred Schorno, Global Head of Sales, 360T Group, in a recent statement on the partnership: “This single point of access is highly beneficial for our clients to exchange confirmations in a secure and timely manner.”
“It often has become a challenge for corporate treasurers to match their trades with banks or subsidiaries within a narrow time frame due to EMIR and other regulatory requirements. The more important it is to extend the value chain for our clients, being a long-term solution partner who support their workflows and enables them to meet these and all future demands,” he added.