FXpress enhances offerings with FIRST Allocate

FXpress Treasury Solutions has recently released FIRST Allocate, an automated hedge request and trade allocation tool.

First Published by e-Forex News: April, 2006

FXpress Treasury Solutions has recently released FIRST Allocate, an automated hedge request and trade allocation tool. This advanced Web-based technology has created a workflow where remote subsidiaries can request hedges from a centralized trading center. Those requests are consolidated and hedged with a single derivative and the system automatically creates all of the inter-company transactions and properly accounts for each legal entity involved.<br>
Prior to FIRST Allocate, corporate treasurers had to either book a series of derivative transactions, or create complicated spreadsheets to effectively track P&L and accounting results of consolidated foreign currency forecasts, said James Gilbert, FXpress Corporations Director of Business Development.