The Electronic Settlement Network is launched in conjunction with Currenex, Bloomberg, ICAP and Logicscope and provides an outsourced, on-demand processing hub for financial institutions.
The Electronic Settlement Network (ESN) is launched in conjunction with leading industry partners Currenex, Bloomberg, ICAP and Logicscope. It provides an outsourced, on-demand processing hub for financial institutions, eliminating the need for large investments in IT infrastructure, upfront software license fees and ongoing operating costs.
ESN covers FX cash, FX derivatives, money markets, vanilla interest rate derivatives as well as listed futures and options. Its services span the entire post trade lifecycle including position management, P&L, deal confirmation, settlement, credit exposure, cash management, scenario and risk analysis, accounting, reconciliation, overall workflow and reporting. The utility can also be used by the largest banks seeking additional capacity to cope with soaring volumes and by prime brokers and electronic currency networks (ECNs) looking to provide a wider range of value added services to their clients.
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