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TwoFour Partners with MarkitSERV to Deliver Collaborative FX Solution

TwoFour, a specialist provider of global real-time financial software solutions and a trusted consultancy in capital markets and treasury, today announced that it has entered into a technology partnership with Logicscope, a leading provider of post-trade solutions to financial institutions that was acquired by MarkitSERV in September 2011. Together, TwoFour and Logicscope have created an interface that delivers enhanced FX post-trade solutions to mutual clients.

MarkitSERV TradeSTP, the post trade technology platform developed by Logicscope, consolidates, transforms and routes normalized trade messages seamlessly to TwoFour for processing. As trades hit the Two Four interface, no matter what the message type, MarkitSERV TradeSTP converts them, in real-time, into FpML format allowing for speedy and uniform delivery to TwoFour’s FX back office solution. With all messages in the same format, TwoFour is able to more efficiently manage cross-asset position-keeping and credit utilization, supporting more complex processing and tighter integration of post-trade workflows. FX trade types include spot, forward, swaps and NDFs (non-deliverable forwards).

Reducing the technical complexity of post trade activity improves operational efficiency, straight-through processing and post-trade workflow, and lowers transaction costs for the client. There are very high costs associated with error investigation and correction, and the collaborative solution facilitates faster, more accurate deal capture and risk management, minimizing errors and eliminating the need for corrections. In addition, clients can easily add trading venues without a complicated adaptation process and without experiencing any lapse in business operations.

Nick Dyne, head of business development for MarkitSERV’s FX business and founder of Logicscope, said: “Efficient management of the post trade lifecycle requires that service providers work closely together, leveraging their collective expertise to meet the precise and challenging requirements of different client segments. We are delighted to be working closely with TwoFour to enhance the post trade experience for our clients.”

Chris Davis, co-founder and global head of sales at TwoFour, added: “Our partnership with Logicscope and MarkitSERV brings together our specialized state-of-the art technology with award-winning market data messaging and data integration software. We’re very excited to be working with MarkitSERV to deliver added value and benefits to our mutual clients.”

TwoFour and Logicscope have a history of partnership. In 2006, TwoFour became a participant in the Logicscope Vendor Partner Program to provide improved connectivity within the FX markets.