FXall, the foreign exchange trading platform, and Linedata Services have signed a partnership agreement. The alliance aims to create a direct interface between FXall and Linedata’s LongView Trading application, allowing trades to flow between the two platforms.
LongView Trading offers fund managers portfolio management, compliance and trading functionality. Like FXall, it is FIX compliant, facilitating electronic trading with FIX connections.
LineData says integrating LongView’s asset management functionality with FXall’s online FX trading capabilities will enable buy-side clients to automate the entire transaction lifecycle, from pre-trade compliance to settlement and accounting. Clients using LongView will be able to receive FXall’s online deal information direct to their desktops, before executing and importing deals into the LongView trade order management system. The deals are then automatically confirmed and settled in a process that dramatically enhances efficiency and reduces processing costs.
“We continue to enhance our real-time electronic trading options across all asset types for our clients,” says Annie Morris, senior vice president of product strategy at Linedata Services. “Our partnership with FXall means that we can provide our foreign exchange clients with a new streamlined workflow to automate communication with their dealers.”
The agreement is part of FXall’s Partner Channel Program, which brings together FXall with portfolio and treasury management systems vendors to deliver straight-through processing to their clients. The Program validates vendors’ STP capabilities and provides them with technical support and consultation to ensure end-to-end integration between their platforms and FXall. More than 35 firms have joined the program to date.
Phil Weisberg, CEO, FXall says that the platform aims to offer its users STP. “For us, that means an end-to-end solution that automates every stage of the transaction process, eliminating the need for manual intervention and radically reducing risk,” he says. “Our Partner Channel Program is indispensable to this goal. By working together with leading treasury and portfolio management systems such as Linedata, we are able to extend the benefits of straight-through processing to a rapidly growing number of corporates and buy-side institutions.”