The gold and precious metals firm’s project has involved moving from Excel and fax-based systems to a new SAP enterprise resource planning (ERP) and treasury management system (TMS) infrastructure. The firm also now uses SWIFT MT messaging to deliver enhanced connectivity and efficiency.
“I believe we’re one of the first corporates to use MT 604/605 messages for trading. We’re using MT 940s for bank communication too,” Baptista explained.
The upshot of the technology and related-organisational overhaul at Metalor’s treasury is that, “we can now trade easily on Bloomberg, covering foreign exchange (FX), options on gold, silver, and platinum, and on interest rates,” said Carrera. “Everything is automated and more efficient now.”
Aniket Kulkarni, director of treasury and trading at PwC Switzerland, which assisted with the long-running project and the technology vendor selection process, detailed the scope of the project when he explained Metalor did 70,000 trades with banks on the metal exchanges. “There is huge volume there” and “a dynamic, speedy hedging approach” is important because the precious metals markets are volatile and fast-moving. Metalor should now be ready for revolutionary change and wall-busting innovation thanks to their adoption of new technology.
There has been an uptick of treasurers inquiring about interest rate risk management in recent months as interest rates in the US and UK have started to show a rise in momentum, said Chatham Financial at the annual Bellin treasury conference.
The global economy has seen about eight years of growth, but we are starting to see the end of this which is triggering some volatility in global markets, Stefan Bielmeier, DZ Bank, argued in his keynote speech at the Bellin annual 1TC conference. Other speakers discussed blockchain, cyber crime and netting.
A series of governments are now very worried about the idea of bitcoin and these currencies because customers would be able to make sustainable ongoing transactions and payments without having to ever introduce the use of a typical financial model or banking system. To combat this potential threat, several countries including major central banks like the Bank of England and the Bank of Israel will be launching their own version of a cryptocurrency. This could bring big advantages to customers.
Inthe UK’s recent Autumn Budget, Chancellor Phillip Hammond vouched for a plan to build a British economy that is “fit for the ... read more