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SimCorp and FXall Partnership Enables Straight Through Processing of Currency Trading

SimCorp and FXall have formed a strategic partnership that will enable their joint corporate treasury customers to benefit from the pricing and liquidity information provided by FXall and the straight through processing benefits provided by SimCorp’s leading treasury management system IT/2.

The joint development of a new internet interface will enable IT/2 customers to access online deal information from FXall’s intranet and then execute and import deals into their treasury system. The deals will then be automatically processed, enabling settlement, risk analysis, cash management and reporting.

"The ability for our customers to trade in FX on the internet is becoming increasingly important for them. Our partnership with FXall fulfils this need,” says Niels Beck, managing director of SimCorp (IT/2). "FXall is one of the few live portals that supports quick automated pricing and we are delighted to be working with them.

"Philip Weisberg, CEO of FXall, says, "We are delighted to be working with SimCorp, provider of one of the industry's leading treasury management systems, IT/2. We are impressed with the comprehensive functionality offered by IT/2 for FX trading. FXall together with the IT/2 system will provide the market with a common protocol for front-office execution and back-office processing, making true STP a reality. Our relationship with SimCorp further demonstrates our commitment to STP and to meeting the needs of our customers."