Industry Article

Baton Core-FX: Transforming FX Settlements

“This is going to completely revolutionise the world of FX settlements,” says Alex Knight, Baton’s Head of Sales in PAY21 October. Alex presents Baton Core-FX, a solution that gives all market participants a fast and secure platform for the safe settlement of their FX trades.



Hear Alex Knight discuss the Baton Core-FX Solution:

Alex explains that Core-FX uses Baton’s shared workflows and ledger to settle trades, from trade matching through to payment. 

“It allows you to safely settle, with all of the benefits of PvP, when you want to” he explains. “It cuts back on complexity and lets you use flexible and automated netting and payment strategies. Once the process is triggered, your entire settlement cycle can be completed in just a few minutes.” 

 “This is going to completely revolutionise the world of FX settlement.”
– Alex Knight

Post-trade processes, Alex says, have remained virtually unchanged for the last 20 years. Volumes, however, have sky-rocketed and yields have been driven down. “I think most would agree,” he says, “that the existing post-trade processes are no longer fit for purpose.” 

In recent years regulators and other industry bodies have expressed concern about the level of settlement risk, and the subject has been highlighted again in the Global FX Committee’s revisions to the FX Global Code. 

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