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.
When it comes to the relationship between Europe and Britain – uniformity isn’t a word that currently springs to mind. And that’s not just a reference to Brexit. Whilst the Europe and Britain do find themselves in the midst of a political break-up – their monetary policies are also showing signs of divergence.
Europe’s introduction of the General Data Protection Regulation (GDPR) next May will have implications for businesses around the world and US corporates should start getting ready if they haven’t already done so.
The recent NotPetya cyberattack underlined the need for organisations to address their exposure and how to mitigate the risk.
As anticipated, US organisations exited prime money market funds en masse following last year’s SEC reforms. AFP’s latest Liquidity Survey indicates what it will take to encourage them back.