FRA-Cross, ICAP’s Internet-based matching facility for crossing forward rate agreements (FRAs), will use the SwapsWire network to confirm electronically matched trades. Commenting on the development, Chip Carver, Chief Executive Officer of SwapsWire, said: ‘By replacing paper documentation with electronic messages the banks and brokers using the system are expected to realise substantial cost savings and will reduce their operational risk.’ The FRA-Cross system enables traders of interest rate swaps to input all their unhedged positions – their FRA exposures or mismatches – onto the FRA-Cross website which then automatically matches one exposed FRA with another.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more