NEX Optimisation partners with Baton Systems and major bank to create new post-trade FX solution through its NEX Infinity platform
17 October 2017
London, New York, Singapore - NEX Optimisation, which helps clients reduce complexity and optimise resources across the transaction lifecycle, announces today that Baton Systems (“Baton”), a high-speed payments infrastructure provider, has joined NEX Infinity as the first third party to provide its services through the platform.
NEX Optimisation and Baton have been working in partnership alongside an existing large, multi-national bank client of NEX to deliver a new post-trade solution for FX spot transactions delivered through the NEX Infinity platform. The solution combines NEX Optimisation’s existing matching and confirmation services and enriches the resulting client data with Baton’s settlement and payments services. The solution will go live in Q1 2018.
Facilitating faster asset movements with and between banks, Baton’s real-time settlement and payments services complement the services provided by NEX Optimisation. Combining these services creates one end-to-end solution that solves the client’s post-trade needs, including operational and balance sheet challenges, while allowing them to optimise their resources more efficiently. Delivering the new solution over NEX Infinity ensures the client can access the solution through one connection, without on-boarding a new vendor and with minimal changes to its infrastructure.
Andrés Choussy, Head of Trade and Portfolio Management, said: “We’re delighted that Baton has joined NEX Infinity as the first third party to sell its services through the platform. Baton is different from other blockchain-enabled payments companies because they move real assets to real bank accounts in real time. This new partnership is exciting because it increases the value of existing services provided by NEX Optimisation and solves the post-trade needs of our client. The new FX post-trade solution has the potential to deliver real transformation for the industry, cutting costs and making it more efficient.”
Arjun Jayarm, Founder and CEO of Baton Systems, said: “As a recently established payments technology company, partnering with NEX Optimisation and joining the NEX Infinity platform was a no-brainer for us. It allows us to provide an end-to-end post-trade solution to our clients, while providing us with the opportunity to grow our client base by giving us exposure to NEX Optimisation’s clients. We look forward to working with NEX Optimisation to help solve our client’s challenges and bring the new solution to the wider market”.
Notes to editors
NEX Infinity provides a single gateway through which clients will be able to connect once to access all NEX Optimisation services. Its open and layered micro services architecture ensures interoperability between platforms and services and gives clients the agility to access not only NEX Optimisation services, but also to permission third party service providers to distribute their products on the platform. By bundling together a variety of services, NEX Infinity helps clients meet all of their trade and portfolio processing needs throughout the transaction lifecycle in one place, while the application of artificial intelligence and distributed ledger technology allows continuous enrichment to their own trusted data.
NEX Optimisation Leading the transformation of market structure, NEX Optimisation offers a portfolio of cloud-hosted services across the transaction lifecycle. Ranging from pre-execution credit checking to multilateral portfolio compression, our purpose is to simplify our clients’ workflow and help them optimise their resources. We are an integrated team of financial markets and pioneering financial technology specialists who operate in all asset classes, geographies and business sectors across the financial markets.
We are dedicated to mitigating risk, increasing efficiency, reducing costs and streamlining increasingly complex processes for our clients. We offer the opportunity to optimise both regulatory and financial resources. Find out more here.
BATON SYSTEMS delivers advanced technology solutions, bringing an unseen level of speed, efficiency and accuracy for financial institutions to clear, settle and manage payments. Founded in 2016 as Ubixi, and backed by venture capital, Baton Systems works with numerous market participants – including major global banks, custodian banks, exchanges and the US Federal Reserve – to meet today’s demands for cost savings, regulatory requirements and better capital management.
For more information, go to: https://www.batonsystems.com/
NEX offers customers better ways to execute trades and manage risk. Our products and services underpin the entire trade lifecycle pre-, during and post-execution. Our electronic trading platforms are industry standards. Customers use our lifecycle management and information services to optimise portfolios, control risk and reduce costs. We partner with emerging technology companies to bring greater efficiency, transparency and scale to the world’s capital markets. NEX is headquartered in London with offices worldwide. NEX. Empowering markets. For more information, go to www.nex.com