 |
||
|
November 2001 Vol 9 Issue 5 / ISSN 1351-5195 FX&MM, Kent |
|
|
|
360T
to launch first multiproduct OTC trading platform |
|
| 360T,
provider of multiproduct OTC platform TEX Multidealer Trading System,
has announced their launch of live trading. The Frankfurt based
company successfully developed and launched a trading technology
which supports real time dealing and management of products in FX,
Money Markets and Interest Rate Derivatives. |
| Multiproduct Trading |
| "We
are delighted by the support among a rapidly growing client base",
says Carlo Kölzer, CFO and head of product development at 360T.
Since the first live FX and MM deals have been completed to the
great satisfaction of all counterparties in early October, 360T
has begun to constantly increase the number of market users and
liquidity providers connected to the live trading environment after
a structured protocol. Using TEX Multidealer Trading System, market
participants can conduct all their OTC transactions through a single
interface. Axel Tillmann, General Manager Treasury of Deutsche Lufthansa
AG, a 360T early stage customer and development partner, states
that "...Lufthansa is able to process more than 95 percent of their
frequently traded OTC products this way, substantially streamlining
our operations by scale effects and straight-through processing
of tickets to our front and back office systems via a standard interface
developed by 360T". |
| Intra-Group Trading |
| Simultaneously,
360T announced the instant availability of I-TEX Intra-Group Trading
System, based on their advanced core technology and motivated by
the conceptual formulation of large multinational corporate clients.
I-TEX enables a group treasury to provide in-house-bank services
in a highly professional environment. I-TEX facilitates the increasing
workload of one-to-one transactions and their due documentation
resulting from official regulations and latest accounting standards
like FAS, IAS and Basle II. Diversified organisations benefit from
process automation with multiple risk and cost reductions, as well
as from STP of all interactions between subsidiaries and the group
treasury. Based on Application Service Provider (ASP) technology,
it comes along with low implementation and operation costs and easy
vertical integration of remote locations. |
