Fortis Bank Global Clearing (FBGC) has licensed the TwoFour System to automate its Foreign Exchange (FX) risk management, clearing and settlement processes. The initial scope for its client services business includes FX spot and forward activity as well as for vanilla Over-the-Counter FX Options.
FBGC's business has undergone significant changes recently and additional volume growth is anticipated. TwoFour will provide robust functionality, rapid implementation and ease to help manage this growth in a timely manner. TwoFour's 24 x 7 workflow based application will streamline FBGC's processes and add efficiencies that will benefit both clients and counterparties.