TXpress

A complete, real-time clearance and settlement solution that provides connectivity and processing for US Treasuries, Agencies, MBS, and Repos.

TXpress automatically captures trades from any front/middle office system (Sierra, Fidessa, Reuters, etc...), handles netting with local netting entities, and prepares/sends settlement instructions to settlement agents and local or global custodians.  It also manages settlement fails and regulatory reporting.

By utilizing our Protocol and Format Converter as a middleware solution, Brokers and Dealers can:

• Interface your Back Office System to GSD and/or MBSD in real-time for comparison netting
• Transmit executed trade information to GSD and/or MBSD as well as receive GSD and/or MBSD results in real time, utilizing SWIFT message formats
• Track GSD and/or MBSD status via TXpress
• Pass GSD and/or MBSD results back to your trading and back office systems in real time or in a batch
• Transmit un-netted trades to your clearing bank in real time
• Perform an automated end of day reconciliation with GSD and/or MBSD
• Connect your systems to TXpress using our API, or we can program to your system's API
• Full transaction management, including cancellation, modification, and "partialling" of pending delivery and expect to receive securities transactions
• Ad-hoc, on-line inquiries and reports, dynamic summary displays, and access to historical transactions
• Department workstations with security control and access restricting functions

The GSD/MBSD Interactive Messaging Protocol and Format Converter is a stand-alone system, solely designed to interact with GSD and MBSD as well as with any system your organization currently uses.

More information:  http://www.fnx.com/solutions/txpress_brokerdealers.html