ABN AMRO Clearing Expands Relationship with TwoFour in Asia Pacific
TwoFour, a specialist provider of global real-time financial software solutions & consultancy to financial institutions announced that ABN AMRO Clearing Clearing Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Read this Term (ABN AMRO Clearing Bank N.V.) has selected TwoFour’s Cash Management solution (“TwoFour CM”) for use in Asia Pacific (“APAC”). TwoFour currently supports ABN AMRO Clearing’s (“AAC”) European business, and has now expanded the relationship to the new region where it will support all cash management activities for Hong Kong, Korea, Taiwan, Japan, Singapore, Malaysia, Australia and India.
Nearly four years ago, TwoFour CM was selected by AAC in Europe because of its streamlined, efficient and scalable means for managing cash in real-time and its ability to consolidate cash from disparate systems. TwoFour CM allows AAC to better manage its intraday cash flow and funding needs by monitoring cash activity on a real-time basis and allowing for a normalized view of cash activity from all internal businesses, including all transaction processing systems. AAC’s APAC-based business will be using the same functions as its European counterparts. For both, TwoFour enhanced its core application to include automated sweeping functions for moving balances between Nostro accounts and automated reconciliation of bank account balances via SWIFT. APAC will also be doing deal capture in TwoFour for FX and MM deals. The solution will be setup as a separate entity structure for EOD processing, with FX deals converting to client currency accounts so AAC can trade on the local exchanges.
“We are delighted to be selected again by AAC as a long-term technology partner to support the growth of the business in the increasingly competitive Asia Pacific financial markets”, said Chris Davis, co-founder and global head of sales at TwoFour. “It’s exciting for us to expand our presence into the region with a client of AAC’s sophistication. We value our business relationships and are dedicated to providing the most effective solutions to meet our clients’ needs. We look forward to a continued successful partnership with AAC. “
Proven to handle 4,000 cash flows per second, TwoFour CM helps efficiently manage growing volumes of cash activity while providing real-time intraday Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term management across highly complex and sophisticated businesses.
TwoFour, a specialist provider of global real-time financial software solutions & consultancy to financial institutions announced that ABN AMRO Clearing Clearing Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Read this Term (ABN AMRO Clearing Bank N.V.) has selected TwoFour’s Cash Management solution (“TwoFour CM”) for use in Asia Pacific (“APAC”). TwoFour currently supports ABN AMRO Clearing’s (“AAC”) European business, and has now expanded the relationship to the new region where it will support all cash management activities for Hong Kong, Korea, Taiwan, Japan, Singapore, Malaysia, Australia and India.
Nearly four years ago, TwoFour CM was selected by AAC in Europe because of its streamlined, efficient and scalable means for managing cash in real-time and its ability to consolidate cash from disparate systems. TwoFour CM allows AAC to better manage its intraday cash flow and funding needs by monitoring cash activity on a real-time basis and allowing for a normalized view of cash activity from all internal businesses, including all transaction processing systems. AAC’s APAC-based business will be using the same functions as its European counterparts. For both, TwoFour enhanced its core application to include automated sweeping functions for moving balances between Nostro accounts and automated reconciliation of bank account balances via SWIFT. APAC will also be doing deal capture in TwoFour for FX and MM deals. The solution will be setup as a separate entity structure for EOD processing, with FX deals converting to client currency accounts so AAC can trade on the local exchanges.
“We are delighted to be selected again by AAC as a long-term technology partner to support the growth of the business in the increasingly competitive Asia Pacific financial markets”, said Chris Davis, co-founder and global head of sales at TwoFour. “It’s exciting for us to expand our presence into the region with a client of AAC’s sophistication. We value our business relationships and are dedicated to providing the most effective solutions to meet our clients’ needs. We look forward to a continued successful partnership with AAC. “
Proven to handle 4,000 cash flows per second, TwoFour CM helps efficiently manage growing volumes of cash activity while providing real-time intraday Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term management across highly complex and sophisticated businesses.