18 April 2023, London – Baton Systems (“Baton”), the global fintech digitally transforming post-trade processing using distributed ledger technology (DLT), is delighted to announce that it has been awarded “Best FX Settlement and Risk Mitigation Solution” at the FX Markets Asia FX Awards 2023

This recognition comes just a few weeks after Baton Systems was also acknowledged as one of The Most Influential Financial Technology Firms in Harrington Starr’s “The Financial Technologist“.

Baton’s latest award recognises the firm’s success with its Core-FX solution, which allows any wholesale FX market participants to safely settle any currency on-demand. Most recently the solution has been used, in production, to orchestrate PvP settlements of offshore deliverable Chinese Renminbi in a world first. Chinese Renminbi is the world’s 5th most traded currency and to date has always been settled without the benefit of PvP protection.

Core-FX has facilitated the netting and safe settlement of trillions of dollars of FX transactions since its initial rollout, and the addition of CNH further demonstrates that Baton has met the technology and legal challenges around the exchange of assets and liabilities to the satisfaction of professional market participants.

FX Markets Asia FX Awards are now in their sixth year and aim to recognise the best banks, dealers, brokers, and currency managers in the Asia-Pacific region that developed unique and innovative ways to respond to industry needs.

Arjun Jayaram, Founder and CEO of Baton Systems, commented:

“ We are thrilled to be recognised at the FX Markets Asia FX Awards 2023. Our team’s hard work and dedication to enhancing transparency and auditability in capital markets are reflected in this recognition. By utilising distributed ledger technology in a truly interoperable manner, and extending access across more currencies, we are empowering firms to significantly reduce settlement risk exposure quickly. This award is a remarkable achievement, and we remain committed to driving innovation in the industry.”


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