Heather McLean Freelance writer.
Heather McLean Freelance writer.

Treasury Best Practice– the role of FX automation - e-FX and Best Practice in the Treasury environment.

Heather McLean speaks to several leading international companies about the best practice advantages for their treasury departments of using eFX technology.

First Published: e-Forex Magazine 22 / FOCUS / January, 2006

Heather McLean canvasses the views of several leading international companies on the best practice advantages for their treasury departments of using eFX technology.In treasury, showing best practice in the use of electronic foreign exchange is now a vital aspect of day to day life. Increasing regulation is the main driver for this, with the need for added transparency and traceability on every aspect of a deal.However, many organisations did not set out one day with the intention of achieving best practice guidelines on eFX; for some, best practice has been a welcomed side effect of bringing eFX trading platforms into their organisations.Although Bertelsmann’s treasury has achieved best practice through eFX, best practice was not the reason it began using the technology. Stephan Scheller, senior vice president for treasury, in the corporate treasury and finance division of Bertelsmann, explains: “It was not our aim to achieve best practice. It was our aim to achieve best work flow. The...continued

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