US Clearing House CHIPS has expanded its processing hours to allow participating financial institutions to increase convenience and maximize liquidity for customers operating in the global marketplace. The new extended day will allow CHIPS operating hours to overlap the business day in Asia. ‘The new extended hours for CHIPS provide our clients in Asia with greater control over their business and cash flow as they can now receive their U.S. dollar payments during Asian business hours rather than having to wait until the next day,’ said Anthony Nappi, Asia Cash Management Head, Citigroup Global Transaction Services. Until this development, CHIPS maintained the best option for clearing U.S. dollars in Asia was through small private clearing arrangements with local banks. However, these often settled the next day, creating an inefficient use of liquidity.
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