NEX Group Launches New Cash and Collateral Movement Workflow Tool ‘PIVOT’

The new service aims to optimize overall counterparty relationships and an efficient decision making process.

NEX Group (LSE: NXG) a fintech company operating in electronic markets and post-trade business, has launched PIVOT (Payments and Investments Optimisation Tool), a new cash and collateral movement workflow tool which enables clients to make cash movements and money market sweeps.

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This new service will be available either individually or in addition to the ENSO Core platform. Through the partnership between NEX Optimisation and NEX Markets, PIVOT will be able to connect the ENSO Core platform with the NEX Treasury.

This new service will enable buy-side institutions to act on cash insights identified within ENSO Core to make the decision-making process quicker and improve counterparty relationships. PIVOT will also help hedge funds to execute cash payments directly through the portal for margin management, manage third-party relationships, and invest excess cash in money market funds.

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According to Nex, it will allow single or multiple cash transfers to all the major banks and broker-dealers through a straight-through processing (STP) connection via the secure SWIFT network.

CEO of NEX Optimisation Jenny Knott said: “Our established multilateral networks and subject matter expertise across NEX Optimisation enables us to provide a suite of services to our clients to optimise their financial resources, reduce their costs, simplify their workflows while giving them confidence in their own data. PIVOT is an integral part of our objective to streamline increasingly complex processes for our clients.”

CEO of ENSO Matthew Bernard said: “In launching PIVOT we have realised the power of the NEX portfolio of businesses, and have built a new solution for our buy-side clients that provides support for cash and collateral management, and treasury and portfolio finance functions.”

CEO of NEX Treasury Justin Meadows said: “In partnership with NEX Optimisation we have now extended this tried and tested capability to provide clients with a secure, reliable and convenient way to automate the substantial cash collateral management workload many of them face every day.”

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