SunGard Asia Pacific has announced that Oakvale Capital, a financial risk management company, has selected eTreasury eXchange (eTX) for online integration. Oakvale Capital will use eTX to connect its existing SunGard treasury application, Quantum, through to State Street’s FX Connect in order to initiate foreign exchange deal requests and to receive bid and offer prices directly from FX Connect. Once the trade is executed, the confirmation, settlement and posting to back-office and accounting systems are fully automated. Commenting on the benefits he expected to see as a consequence of the deal, Jim Cunningham, managing director at Oakvale Capital, said: ‘Direct online dealing with banks is a more efficient way to operate than the manual and costly process of phoning banks. We will save time, reduce the possibility of errors and improve the settlement process overall as we achieve straight-through processing.’
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