Payment news, October 19

ANZ signs up to the Progress Apama foreign exchange solution as it forecasts a significant increase in trade volume.

ANZ live on solution for foreign exchange operations

Australia and New Zealand Banking Group (ANZ) has chosen a solution provided by independent enterprise software company, Progress Software Corporation, for its foreign exchange operations. ANZ is now live on Progress Apama FX aggregation accelerator. The platform has been implemented in ANZ’s Melbourne and Sydney trading centres.

“ANZ bank is committed to an aggressive foreign exchange growth strategy, and put simply, the Progress Apama platform gave us the best tools available to support our goals for global growth,” said Luke Marriott, global head of FX operations at ANZ, in a statement. “The improved visibility of liquidity and the ability to support a significant increase in trade volume will lead to a full return on our investment by the end of the year, while giving ANZ the FX eCommerce infrastructure necessary to scale globally and maintain a high level of competitiveness in today’s FX marketplace.”

Daiwa selects trade solutions from Fiserv and Omgeo

Daiwa Securities Capital Markets has chosen to implement Fiserv TradeFlow and Omgeo Central Trade Manager (Omgeo CTM) to improve same-day affirmation rates, reduce operating costs and decrease trade failures. Daiwa has now doubled its processing capacity to 10,000 trades a day and has a faster turnaround time.

“The faster Daiwa can match and reconcile trades, the quicker they can reduce costs and settlement failure,” said Cheryl Nash, strategic marketing and business development senior vice-president of investment services at Fiserv, in a statement. “TradeFlow for Omgeo CTM enables financial organisations to effectively manage the settlement process and review matching status for greater responsiveness to exceptions and increased efficiency.”

Stock Exchange of Thailand and Nasdaq OMX continue partnership

The Stock Exchange of Thailand (SET) has extended its alliance with Nasdaq OMX for five years. Nasdaq OMX will continue to support the integrated and clearing platform of the Thailand Futures Exchange (TFex), a wholly owned subsidiary of SET.

“TFex has experienced impressive growth over the past few years, thanks in large part to our technology partnership with Nasdaq OMX. This partnership has enabled TFex to provide efficient and reliable service to investors,” said Charamporn Jotikasthira, president of SET, in a statement. “Under the extended agreement, Nasdaq OMX will support TFex in providing night trading sessions and new commodity-based products, enabling SET to provide a wider variety of products and services to investors.”

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