Vodafone Hutchison Australia (VHA), a 50:50 joint venture between telecommunications groups Vodafone and Hutchison 3G, has selected Bloomberg’s foreign exchange trading platform (FXGO) to manage exchange rate risk.
Bloomberg said that VHA is among a growing number of corporations using FXGO to manage foreign exchange (FX) risk, execute FX trades and get requests for quotes. FXGO is part of the Bloomberg Professional service platform, which is also used by VHA’s corporate relations, marketing, product development, risk and compliance units for market data, counterparty risk information, economic data and pricing information.
Robert Parts, VHA’s external treasury manager, said that the company had chosen FXGO after “rigorous comparison” and found that it provided a better service in providing a number of different quotes from the main banks. “Auditing trades is also much easier with the enhanced transparency of being able to assess all bank prices before we trade,” he added.
Amanda Dobbie, Bloomberg’s head of sales for Australia and New Zealand, said: “With FXGO, Vodafone and other companies can get prices from a range of preferred banks, execute trades and integrate their trading activities with their risk, order management and back office systems – all on one platform.”
The US money market fund reforms came into effect in 2016 and are already dramatically shaping US fund industry with investors flooding out of prime funds and into government securities. While the reforms are similar, they are not the same. GTNews interviews Yeng Bulter, global head of the cash business at State Street Global Advisors on the differences.
There are various ways for financial institutions to benefit from advanced technologies and business models provided by FinTech's. Whether a business' approach is radical or incremental, data management can help a company to increase their return on investment, argues André Casterman, INTIX.
Tim de Knegt, strategic finance and treasury manager for the Port of Rotterdam, discusses how he is using blockchain, the challenges he will face in his role of treasury over the next 12 months and the advice he would give to someone starting out their career in treasury.
Due to the low interest rate environment and Basel III regulation many corporate treasurers, who may have in the past been very reliant on the banking sector to provide them with cash management solutions, have been forced to explore alternative options as banks have been refusing short dated cash deposits.