TwoFour, a specialist provider of global real-time financial software solutions and a trusted consultancy in capital markets and treasury, today announced that it has entered into a technology partnership with Logicscope, a leading provider of post-trade solutions to financial institutions that was acquired by MarkitSERV in September 2011. Together, TwoFour and Logicscope have created an interface that delivers enhanced FX post-trade solutions to mutual clients.
MarkitSERV TradeSTP, the post trade technology platform developed by Logicscope, consolidates, transforms and routes normalized trade messages seamlessly to TwoFour for processing. As trades hit the Two Four interface, no matter what the message type, MarkitSERV TradeSTP converts them, in real-time, into FpML format allowing for speedy and uniform delivery to TwoFour’s FX back office solution. With all messages in the same format, TwoFour is able to more efficiently manage cross-asset position-keeping and credit utilization, supporting more complex processing and tighter integration of post-trade workflows. FX trade types include spot, forward, swaps and NDFs (non-deliverable forwards).
Reducing the technical complexity of post trade activity improves operational efficiency, straight-through processing and post-trade workflow, and lowers transaction costs for the client. There are very high costs associated with error investigation and correction, and the collaborative solution facilitates faster, more accurate deal capture and risk management, minimizing errors and eliminating the need for corrections. In addition, clients can easily add trading venues without a complicated adaptation process and without experiencing any lapse in business operations.
Nick Dyne, head of business development for MarkitSERV’s FX business and founder of Logicscope, said, “Efficient management of the post trade lifecycle requires that service providers work closely together, leveraging their collective expertise to meet the precise and challenging requirements of different client segments. We are delighted to be working closely with TwoFour to enhance the post trade experience for our clients.”
Chris Davis, co-founder and global head of sales at TwoFour, added, “Our partnership with Logicscope and MarkitSERV brings together our specialized state-of-the art technology with award-winning market data messaging and data integration software. We’re very excited to be working with MarkitSERV to deliver added value and benefits to our mutual clients.”
TwoFour and Logicscope have a history of partnership. In 2006, TwoFour became a participant in the Logicscope Vendor Partner Program to provide improved connectivity within the FX markets.
TwoFour offers highly scalable and flexible workflow-based transaction processing software solutions for FX and treasury cash management. TwoFour also offers the TwoFour Foundation, a robust core architecture to “jump-start” the development of business transaction processing systems across any industry. This core architecture facilitates 24×7 availability real-time transaction processing and allows start-up development projects to leverage proven technical components that have been leveraged at the heart of many mature software applications. All TwoFour solutions enable real-time transaction management around the clock and are used by leading financial services organizations to improve speed and agility, enable better decision-making, reduce risk and drive down costs. Designed for rapid implementation and integration, TwoFour’s solutions leverage the latest technologies, including C#, MS Silverlight and Microsoft’s .NET framework, to ensure the highest levels of scalability and flexibility. For more information, please visit www.twofour.com
About Logicscope (now part of MarkitSERV)
Founded in 1993, Logicscope is a market leader in deal notification and data integration technologies and services. TradeSTP, Logicscope’s award-winning service, offers standard and customisable post-trade STP and workflow solutions that support the FX industry’s growing focus on regulation, central clearing, prime brokerage, risk mitigation and cross-asset reporting. For more information, see www.logicscope.com
MarkitSERV, jointly owned by The Depository Trust & Clearing Corporation (DTCC) and Markit, provides a single gateway for OTC derivatives trade processing. By integrating electronic allocation, trade confirmation and portfolio reconciliation, MarkitSERV provides an end-to-end solution for post trade transaction management of credit, interest rate, equity and foreign exchange derivatives. MarkitSERV also connects dealers and buy-side institutions to trade repositories and all six major central clearing counterparties worldwide. For more information, see www.markitserv.com