Integration of FX STP and automation into other processes

Steve Godfrey and Gretchen Breiling explain how FX STP can add value as a fully automated component in other transactions.

First Published: e-Forex Magazine 19 / Features / July, 2005

Steve GodfreyGretchen BreilingThe cost and efficiency benefits of STP for FX transactions have been long appreciated, but a more recent innovation has been the integration of FX STP and automation into other processes. Steve Godfrey, head of Electronic Transaction Services sales for Bank of America’s Global Foreign Exchange (GFX) and Gretchen Breiling, product manager with the bank's Global Treasury Services division, explain how FX STP can add value as a fully automated component in other transactions, such as commercial payments.In many respects, the FX landscape has altered radically over the past few years, with exponential growth in electronic trading and major improvements in STP rates. However, in some areas, transactional behaviour hasn’t changed much and opportunities to improve efficiency and reduce costs still remain. One area where these opportunities are being increasingly appreciated is Corporate Treasury.Treasuries make cross currency transfers for a wide variety of reasons, but...continued

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