Kevin J. Clarke, Senior Vice President and Chief Risk Officer at MHTNY, explains: âMHTNY provides highly integrated securities clearing and custody, fund valuation and securities lending services to Japanese institutional investors. We are engaged in a project to develop and offer custody and securities settlement services in new markets, including Canada, Mexico, Brazil, Chile, Columbia and Peru; the need to service FX handling for our clients led to the requirement for a robust, complete and cost-effective software solution. We selected IT2 to provide a secure end-to-end automated workflow for the bankâs front, middle and back office FX operations, and to manage exposure and hedges for spot, forward, swap and NDF transactions.â
The IT2 solution is integrated with SWIFT to manage payment settlements and the confirmation control mechanism. IT2 maintains and actions clientsâ custody standard settlement instructions. The solution extends to risk control, including currency position management, credit line control and NPV calculation. IT2 is interfaced with MHTNYâs client custody system and with market data feeds.
âSecuring Mizuho Trust & Banking Co. (USA)âs FX exposure management business is another validation of IT2âs versatility as a treasury technology solution provider,â adds Steve Bullock, IT2âs Senior Vice President and Regional General Manager.