To run successfully post trade processing Wall Street Systems, a provider of treasury, trading and settlement, launches Electronic Settlement Network (ESN).
ESN is created to provide capital markets with outsourced, on-demand processing centre for proceeding the necessary operations and setting the benchmark for the lowest trade costs in the industry. ESN reduces investments in IT infrastructure, upfront license fees and ongoing operating costs.
Covering FX cash, FX derivatives, money markets, vanilla interest rate derivatives and listed futures ESN encompasses post trade period including deal confirmation, settlement, position management, P&L, scenario and risk analysis, accounting, reconciliation, overall workflow and reporting.
“With ESN, many more banks can reduce their cost burden by accessing a more efficient trade processing infrastructure to the benefit of their bottom line and competitiveness in the marketplace,” says Tony White, managing director, ESN.
“We are pleased to have participated in a collaborative effort with leading industry participants to create ESN – a seamless best of breed solution to reduce trading costs,” says Sean Gilman, chief technology officer, Currenex. “ESN will offer clients the powerful combination of trade execution services with an extensive, secure and robust trade processing solution.”
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