# Baton Systems > Post-Trade Redefined --- ## Pages - [DLT-Powered Industry Networks](https://batonsystems.com/solutions/dlt-empowering-industry-networks/): Explore how Baton's DLT transforms settlement and liquidity management with faster, safer and more efficient asset movements. - [Baton White Papers](https://batonsystems.com/insights/white-papers/): Download our white papers to gain an understanding of how your institution could optimise it's approach to intraday liquidity management. - [FX Settlement with Core-FX: Collaborative, Flexible and Secure](https://batonsystems.com/solutions/fx-settlement-with-core-fx-collaborative-flexible-and-secure/): Discover Baton's FX settlement and post-trade processing capabilities - faster, safer and automatically synchronised. - [Intraday Liquidity Calculator](https://batonsystems.com/solutions/real-time-intraday-liquidity-management-solution/intraday-liquidity-calculator/): Discover how an intraday liquidity calculator can help mid-tier banks cut costs on liquidity buffers and boost efficiency. - [Intraday Liquidity and Risk: The Hundred Million Dollar Challenge](https://batonsystems.com/insights/white-papers/intraday-liquidity-and-risk-management/): Download our white paper to explore risks, costs, and revenue impacts of intraday liquidity management. - [Managing Operating Risk and Event Risk in Financial Markets](https://batonsystems.com/insights/video-managing-operating-risk-and-event-risk-in-financial-markets/): Navigate financial and geopolitical risks. Learn how to manage operating and event risks, leverage AI, and build resilient risk frameworks for your bank's future. - [Accelerate CCP Connectivity with Baton’s Integration Manager](https://batonsystems.com/post-trade-processing-solutions/data-integration-manager/accelerate-venue-and-ccp-connectivity/): Understand the impact of ccp connectivity on managing complex collateral relationships in today's financial landscape. - [Insights](https://batonsystems.com/insights/): Insights - [Company](https://batonsystems.com/company/): Company - [Solutions](https://batonsystems.com/solutions/): Solutions - [Editorial](https://batonsystems.com/insights/editorial/): Stay informed with the latest news on Baton Systems' innovative solutions and perspectives. Learn how we are leading the change in financial markets. - [The Balance Manager](https://batonsystems.com/post-trade-processing-solutions/balance-manager/): Discover how Baton's Balance Manager can optimize operations, improve efficiency, and drive success in projects. - [Data Integration Manager](https://batonsystems.com/post-trade-processing-solutions/data-integration-manager/): Accelerate data integration by 90%, helping banks consolidate fragmented data to power automated workflows and real-time insights. - [The Eligibility Service](https://batonsystems.com/post-trade-processing-solutions/automated-eligible-collateral-evaluation/): Gain real-time eligible collateral insights for reduced risk and optimized efficiency with Baton's Eligibility Service. - [Mastering Intraday Liquidity Risk](https://batonsystems.com/insights/white-papers/mastering-intraday-liquidity-risk/): Expert guide for financial institutions on implementing the tools to meet the ECB's Sound Practices for Managing Intraday Liquidity Risk. - [Real-time Intraday Liquidity Management Solutions](https://batonsystems.com/solutions/real-time-intraday-liquidity-management-solution/): Discover Baton's modular intraday liquidity management solution. Real-time firm-wide insights, precision forecasting and automated controls. - [Mitigating Post-Trade Risk](https://batonsystems.com/solutions/real-time-payment-control/post-trade-risk-reduction-with-core-payments/mitigate-post-trade-risk/): Transforms post-trade risk management with real-time visibility & control, helping firms mitigate counterparty, payment, and operational risks - [Industry Articles & Use Cases](https://batonsystems.com/insights/industry-articles-use-cases/): Explore our white papers and industry articles to see how Baton's innovative solutions are transforming asset movement and settlement in financial markets. - [Learn about the latest in post-trade processing technology](https://batonsystems.com/insights/blog-posts/): Explore our blog posts discussing key industry challenges & latest innovations in post-trade processing technology - [Post-Trade Risk Reduction with Core-Payments®](https://batonsystems.com/solutions/real-time-payment-control/post-trade-risk-reduction-with-core-payments/): Core-Payments offers enhanced post-trade risk reduction through real-time oversight, automation, and risk reduction - [Optimising Post-trade Operations](https://batonsystems.com/solutions/real-time-payment-control/post-trade-operations/): Core-Payments supports post-trade operations with real-time insights & automation, mitigating risks, and reducing costs. - [Payment Risk Management](https://batonsystems.com/solutions/real-time-payment-control/wholesale-payment-risk-management/): Discover Baton Systems' innovative no-code hold and release controls to manage payment risk and reduce settlement failures in real time. - [Chingiz Mammadov](https://batonsystems.com/chingiz-mammadov/): Meet Chingiz Mammadov, Baton Systems' Head of Finance. With CFO experience & 12+ years in structured lending, he brings strategic financial leadership. - [Ravindra Madduri](https://batonsystems.com/ravindra-madduri/): Ravindra Madduri is the Global Head of Product Management at Baton Systems. He brings 25+ years of experience across Banking and FinTechs. - [Ragu Raymond](https://batonsystems.com/ragu-raymond/): Ragu is responsible for delivering client success in implementation and ongoing support for Baton Systems’ Cleared Collateral solutions. - [Life @BatonSystems](https://batonsystems.com/company/life-at-baton/): Interested in finding out what it's like working at Baton? Please find below just some of the activities and events that our amazing team members have participated in over recent months. - [Ronn Baker](https://batonsystems.com/ronn-baker/): Ronn Baker joined Baton Systems in March 2022 as Senior Director of North American Sales. - [Aaron Ayusa](https://batonsystems.com/aaron-ayusa/): Aaron Ayusa is Director of Client Success at Baton Systems, working closely with Baton’s customers to help solve FX-related issues and develop FX solutions - [Ananth Ramakrishnan](https://batonsystems.com/ananth-ramakrishnan/): Ananth Ramakrishnan is Baton Systems’ Head of Engineering, with responsibility for the design & delivery of Baton’s platform and services. - [Sonia Bathija](https://batonsystems.com/sonia-bathija/): Meet Sonia Bathija, Baton Systems' Head of Operations, India. With 25 years of global experience in product development and risk assessment, she leads the company's Indian operations. - [Daniella Huggins](https://batonsystems.com/daniella-huggins/): Meet Daniella Huggins, Baton Systems' Marketing Director. She brings deep FinTech and financial services expertise, building B2B brands and articulating complex technical value. - [Mohammad Abidi](https://batonsystems.com/mohammad-abidi/): With 20+ years in tech, Mohammad Abidi leads Baton Systems' platform design, leveraging expertise in analytics, data pipelines, & innovation. - [Tucker Dona](https://batonsystems.com/tucker-dona/): Tucker Dona, Head of Business Development at Baton Systems, leverages decades of experience in derivatives, clearing, and client success. - [Alex Knight](https://batonsystems.com/alex-knight/): An experienced builder of global businesses, Alex joined Baton in 2019 following 18 years at Citi in London, Sydney and Singapore - [Arjun Jayarman](https://batonsystems.com/arjun-jayaram/): Arjun Jayaram, CEO of Baton Systems, drives real-time payments & settlement innovations, transforming post-trade processes for global markets - [David Ornstein](https://batonsystems.com/coo-david-ornstein/): At Baton, David is focused on enabling the firm to effectively scale as the number of clients expands with market interest in deploying DLT - [Baton Core FX powers real-time, riskless settlements](https://batonsystems.com/baton-core-fx-now-powering-real-time-riskless-settlements-with-no-pre-funding/): Take Control with Baton's DLT powered Core-FX solution that enables real-time, riskless settlement with no pre-funding - [Jobs](https://batonsystems.com/job-openings/): We are always looking for a vast array of talent to join our team. Find out how to apply to or just view our current job openings. - [PAY21 October Event](https://batonsystems.com/october-introducing-baton-core/): Discover how pioneering banks are now using Baton’s DLT to address liquidity and funding challenges and gain real-time visibility - [Baton Expo March 2021](https://batonsystems.com/pay21-march-platform-overview/): Explaining how firms can overcome challenges in FX settlement and liquidity. See exclusive demos, delve into detailed use cases. - [Baton Expo May 2021](https://batonsystems.com/pay21-may-collateral-management-client-view/): Sharing our perspective on the three key themes for settlements and payments: risk management, liquidity management, and funding. - [Collateral optimization and intelligent automation with Core-Collateral](https://batonsystems.com/solutions/collateral-optimization/): Achieve collateral optimization with Baton. Optimize allocations, automate processes, reduce risk and boost efficiency with Core-Collateral®. - [Contact](https://batonsystems.com/contact/): If you would like to get in touch with us please contact us directly through email info@batonsystems.com we would love to hear from you - [Resources](https://batonsystems.com/resources/): Learn how Baton is driving innovation in the movement of assets & settlements across financial markets - redefining post-trade processing. - [Press Releases](https://batonsystems.com/insights/press-releases/): Stay up-to-date with the latest news, events and insights into the transformation taking place right now across the post-trade landscape. - [Post-trade solutions for the future of finance](https://batonsystems.com/company/about/): Explore how post-trade solutions are shaping the future of banking for the world's largest financial institutions. - [Careers](https://batonsystems.com/company/careers-at-baton-systems/): Learn about the career opportunities available at Baton Systems and hear directly from our team members about why they enjoy working at Baton - [Core-Payments - Real-time payment control](https://batonsystems.com/solutions/real-time-payment-control/): Optimise settlements and increase payment control with Baton’s real-time solution. Boost resilience and reduce risks. Discover more today! - [CORE Platform](https://batonsystems.com/post-trade-processing-solutions/): Streamline post-trade operations and settlements with Baton CORE®'s real-time, interoperable post trade processing solutions. - [Post-trade Solutions - Real-time and Multi-asset](https://batonsystems.com/): Discover Baton's post-trade solutions. Enhance speed, visibility, control, and networks in settlements, liquidity, and risk management. - [Privacy Policy](https://batonsystems.com/privacy-policy-terms/): Your privacy is important to us. We believe in protecting your information in the same way we want ours protected. Read our privacy policy. --- --- ## Posts - [4 Ways FCMs Can Optimise Collateral Efficiency and Bolster Capacity](https://batonsystems.com/insights/blog-posts/4-ways-fcms-can-optimise-collateral-efficiency-and-bolster-capacity/): How FCMs can boost collateral efficiency, manage margin call spikes, and optimise liquidity in volatile markets. - [OSTTRA, Baton and Partior Expand FX Settlement Ecosystem with Tokenised Commercial Bank Funds and 24/7 Access](https://batonsystems.com/insights/press-releases/osttra-baton-and-partior-expand-fx-settlement-ecosystem-with-tokenised-commercial-bank-funds-and-24-7-access/): Announcement: OSTTRA, Baton and Partior Expand FX Settlement Ecosystem with Tokenised Commercial Bank Funds and 24/7 Access - [Fnality Joins OSTTRA and Baton Systems’ FX PvP Network to Expand Settlement Choice and Bolster Liquidity Efficiencies](https://batonsystems.com/insights/press-releases/fnality-joins-osttra-and-baton-systems-fx-pvp-network/): Announcement: Fnality Joins OSTTRA and Baton Systems’ FX PvP Network to Expand Settlement Choice and Bolster Liquidity Efficiencies - [Baton Connects with DTCC’s FICC and NSCC Clearing Houses](https://batonsystems.com/insights/press-releases/baton-connects-with-dtccs-ficc-and-nscc-clearing-houses/): Baton's Core-Collateral now offers direct two-way connectivity to the DTCC's FICC and NSCC clearing houses - helping clients prepare for US Treasury clearing. - [Improving Intraday Liquidity Management: Risks, Costs and Revenue Impact](https://batonsystems.com/insights/blog-posts/improving-intraday-liquidity-management/): Explore the challenges of intraday liquidity management, including risks, costs, and revenue opportunities, as banks adopt a more proactive approach. - [Intraday Liquidity Monitoring: Increasing Liquidity Resilience](https://batonsystems.com/insights/blog-posts/intraday-liquidity-monitoring-increase-intraday-liquidity-resilience-with-baton/): Meet ECB intraday liquidity risk monitoring requirements with a real-time, consolidated, firm-wide view of liquidity positions. - [Are the ECB’s Intraday Liquidity Risk Principles Achievable Before the Next Crisis?](https://batonsystems.com/insights/editorial/are-the-ecbs-intraday-liquidity-risk-principles-achievable-before-the-next-crisis/): Discover the strategies for effective intraday liquidity risk management from the European Central Bank's sound practices. - [Baton Systems Expands Core-Collateral® Network with Euronext Clearing](https://batonsystems.com/insights/press-releases/baton-systems-expands-core-collateral-network-with-euronext-clearing/): Baton Systems announced today the continued expansion of its Core-Collateral® network with the addition of Euronext Clearing. Learn more! - [Cut Integration Timelines: Baton’s Low-code Data Integration Tool](https://batonsystems.com/insights/blog-posts/cut-integration-timelines-batons-low-code-data-integration-tool/): Discover how Baton’s Integration Manager can reduce data integration timelines by almost 90%, improve data accuracy and availability across business lines for real-time insight. - [Baton Systems Accelerates Bank Data Integration Timelines by Almost 90% ](https://batonsystems.com/insights/press-releases/baton-systems-accelerates-bank-integration-timelines/): Discover Baton Systems' new low-code Integration Manager, designed to reduce bank data integration timelines by 90%. Streamline data aggregation, enable real-time insights, and enhance risk and liquidity management. - [Exploiting the power of fintech in post trade FX](https://batonsystems.com/insights/editorial/exploiting-the-power-of-fintech-in-post-trade-fx/): Strengthening post-trade FX: The updated FX Global Code (Dec 2024) increases trading platform data transparency and reduces settlement risk. - [The TRADE predictions series 2025: What to expect in fixed income](https://batonsystems.com/insights/editorial/the-trade-predictions-series-2025-what-to-expect-in-fixed-income/): Individuals from Bloomberg, Tradeweb, and Baton Systems explore what’s next for fixed income in 2025 including the growth of credit index futures, technological innovation, advancements in data, and clearing. - [Baton Systems launches Eligibility Service](https://batonsystems.com/insights/editorial/baton-systems-launches-eligibility-service/): Baton Systems has unveiled its new Eligibility Service — a collaborative workflow solution designed to facilitate and automate the process of evaluating asset eligibility across diverse counterparties. - [GFXC Updates FX Global Code](https://batonsystems.com/insights/editorial/gfxc-updates-fx-global-code/): The updated FX Global Code, effective December 2024, strengthens transparency in trading platform data usage and enhances risk mitigation for FX settlement. - [Baton Systems to Transform Collateral Management Decision-Making with New Eligibility Service](https://batonsystems.com/insights/press-releases/transform-collateral-management-with-eligibility-service/): Discover Baton Systems' new Eligibility Service, a solution that automates collateral eligibility evaluation, enhances transparency, and delivers precise data for smarter decision-making. Optimize workflows and reduce risk with this cutting-edge tool for treasury and collateral managers. - [Collateral Management Workflows: Intelligent, Automated and Real-Time](https://batonsystems.com/insights/blog-posts/intelligent-collateral-management-workflows/): Learn how Baton’ smart, automated & real-time collateral management workflows increase efficiencies, reduce cost and risk - [Adapting to the Updated FX Global Code: Strategies for Reducing FX Settlement Risk](https://batonsystems.com/insights/blog-posts/updated-fx-global-code-fx-settlement-risk/): Reduce FX settlement risk with real-time technology. Discover PvP, conditional settlements, automated netting, and risk management tools aligned with the FX Global Code. - [Managing Intraday Liquidity Risk: Meeting the ECB's Principles](https://batonsystems.com/insights/blog-posts/meeting-ecb-intraday-liquidity-risk-management-principles/): Explore our blog on managing intraday liquidity risk by aligning with the ECB's Nov 2024 principles and the capabilities needed to comply. - [The Basel Committee Pushes for Stronger Global Banking Standards](https://batonsystems.com/insights/editorial/the-basel-committee-pushes-for-stronger-global-banking-standards/): The Basel Committee on Banking Supervision has unanimously reaffirmed their expectation of implementing all aspects of the Basel III framework, an international set of banking standards aimed at improving resilience, without further delay. - [Baton: ECB review shows intraday liquidity risk “not a side issue”](https://batonsystems.com/insights/editorial/baton-ecb-review-shows-intraday-liquidity-risk-not-a-side-issue/): The European Central Bank (ECB) recently conducted a thematic review to analyze existing intraday liquidity risk management practices among a sample of the most complex global systemically important banks (G-SIBs). - [Record Demand for Real-time Collateral Management says Baton](https://batonsystems.com/insights/editorial/record-demand-for-real-time-collateral-management-says-baton/): Baton reports that the value of client asset movements instructed using its Core-Collateral® solution has reached a record high via Markets Media - [Baton reports record demand for real-time collateral management amid volatile year for markets](https://batonsystems.com/insights/press-releases/value-of-core-collateral-asset-movements-at-record-high/): Asset movement executed in the first 10 months of 2024 using Baton’s Core-Collateral solution exceed $3.3 trillion - [How Banks Can Better Manage and Safely Reduce Intraday Liquidity Buffers](https://batonsystems.com/insights/blog-posts/intraday-liquidity-buffer-management/): Explore how the latest advancements in treasury tools are enabling banks to better manage & safely reduce intraday liquidity buffers - [To tokenize or not to tokenize FX](https://batonsystems.com/insights/editorial/to-tokenize-or-not-to-tokenize-fx/): While tokenization promises transparent & efficient FX settlement, Alex Knight highlights challenges integrating with fiat systems, emphasizing the need for visibility & control. - [FX association calls out proposed FX Global Code revisions for ‘complexity and lack of clarity’](https://batonsystems.com/insights/editorial/fx-association-calls-out-proposed-fx-global-code-revisions-for-complexity-and-lack-of-clarity/): The Foreign Exchange Professionals Association (FXPA) labelled the updates “well-intentioned but flawed”, namely due to the overly complicated language used in the proposals and the lack of practical detail. - [Baton's Real-time Intraday Liquidity Management](https://batonsystems.com/videos/batons-real-time-intraday-liquidity-management/): Discover how the latest advancements in treasury management tools help banks optimise intraday liquidity and reduce intraday funding cost - [Intraday FX swaps could signal new dawn for liquidity management](https://batonsystems.com/insights/editorial/intraday-fx-swaps-could-signal-new-dawn-for-liquidity-management/): Intraday FX Swaps: Settling transactions at a specific time of day to support liquidity management is becoming more achievable. - [Murex, Baton: Basel III banking reforms expose “emerging chinks” in global finance armor](https://batonsystems.com/insights/editorial/murex-baton-basel-iii-banking-reforms-expose-emerging-chinks-in-global-finance-armor/): BIS report highlights while Basel III reforms have strengthened the global banking system, warning flags indicate some large financial institutions may not be prepared for future crises - [Fireside Friday with… Baton System’s Arjun Jayaram](https://batonsystems.com/insights/editorial/fireside-friday-with-baton-systems-arjun-jayaram/): Baton Systems CEO Arjun Jayaram discusses growing post-trade inefficiencies, adapting to T+1 settlement, and managing liquidity amidst market volatility. - [Real-time Visibility: Why it is Key for Managing Collateral and Payments Now](https://batonsystems.com/insights/editorial/real-time-visibility-why-it-is-key-for-managing-collateral-and-payments-now/): In today’s volatile markets, real-time visibility is crucial for managing collateral and payments. Tucker Dona from Baton Systems discusses how enhanced automation and real-time data can improve decision-making and control. - [Intraday Liquidity Optimisation: A Treasury Manager’s Guide to Tooling](https://batonsystems.com/insights/blog-posts/intraday-liquidity-optimization-a-treasury-managers-guide/): Discover how banks can cut costs by safely reducing intraday liquidity buffers. Learn 6 practical steps to optimise treasury operations with real-time data and predictive analytics. - [Baton Systems to transform bank treasury capabilities with real-time intraday liquidity management and analysis tools](https://batonsystems.com/insights/press-releases/baton-releases-intraday-liquidity-treasury-management-tools/): Baton Systems introduces treasury management tools to optimise intraday liquidity, reduce costs and improve financial resilience in real-time - [Why Intraday Liquidity Management Needs to be More Active and Granular](https://batonsystems.com/insights/blog-posts/intraday-liquidity-management-needs-to-be-active-granular/): Discover how advanced liquidity management tools offer real-time visibility and control - enabling firms to optimise payment flows, enhancial financial resiliency and cut costs. - [Financial Resiliency: Rethinking Intraday Liquidity Risk](https://batonsystems.com/insights/blog-posts/financial-resiliency-rethinking-intraday-liquidity-risk/): Learn how banks can boost financial resiliency by managing intraday liquidity risk in real time. Discover tools for visibility, stress testing, and safer settlements. - [Equity market meltdown poses intraday liquidity management questions — high time for answers](https://batonsystems.com/insights/editorial/equity-market-meltdown-poses-intraday-liquidity-management-questions-high-time-for-answers/): Recent market volatility exposes financial institutions to severe liquidity challenges. Explore why proactive, real-time intraday liquidity management is now crucial for financial stability. - [With existing tech stretched to the limit at T+1, intraday liquidity turns to DLT for T+0](https://batonsystems.com/insights/editorial/with-existing-tech-stretched-to-the-limit-at-t1-intraday-liquidity-turns-to-dlt-for-t0/): Alex Knight & Anna Reitman discuss why optimizing intraday liquidity is challenging. Lack of data confidence, historical insights, & scheduling limits restrict firms' efficiency. - [Business growth requires firm-wide post-trade risk controls](https://batonsystems.com/insights/blog-posts/business-growth-requires-firm-wide-post-trade-risk-controls/): How banks able to rapidly identify, assess, & mitigate post-trade risk are able to confidently pivot into new business lines, innovate, & grow revenues - [Interoperability: The Fast Lane to Innovation That Swerves Disruption](https://batonsystems.com/insights/editorial/interoperability-the-fast-lane-to-innovation-that-swerves-disruption/): Arjun Jayaram, CEO of Baton Systems, discusses how interoperable technologies offer a practical pathway for investment banks to modernise post-trade systems without the disruption of a complete overhaul. Discover how this approach enhances risk management and future-proofs your business. - [Baton Systems adds JSCC to its growing CCP network](https://batonsystems.com/insights/press-releases/baton-systems-adds-jscc-to-its-growing-ccp-network/): Baton Systems integrates with JSCC, enabling Clearing Members to automate collateral workflows, optimise processes & view real-time balances - [Banks still hitting the buffers on intraday liquidity management](https://batonsystems.com/insights/editorial/banks-still-hitting-the-buffers-on-intraday-liquidity-management/): Alex Knight reveals why real-time visibility & control are crucial for banks. Learn to effectively monitor, measure, and manage intraday liquidity. - [Why post-trade risk reduction requires up-to-date insight](https://batonsystems.com/insights/blog-posts/why-post-trade-risk-reduction-requires-up-to-date-insight/): Learn why access to up-to-date information is essential for banks keen to effectively identify, assess, mitigate, and ultimately achieve post-trade risk reduction - [FinTech companies sceptical of SEC’s statement on T+1](https://batonsystems.com/insights/editorial/fintech-companies-sceptical-of-secs-statement-on-t1/): Alex Knight highlights the growing challenges of manual post-trade processes. Shorter timelines put pressure on efficiency and costs, demanding automated solutions. - [From Herstatt to Credit Suisse: Banking’s Fifty-Year Call for Real-Time Reconciliation](https://batonsystems.com/insights/editorial/from-herstatt-to-credit-suisse-bankings-fifty-year-call-for-real-time-reconciliation/): Real-time payment reconciliations, why it’s not just about increasing operational efficiencies but becoming a matter of systemic and regulatory resilience – Alex Knight explains via Traders Magazine - [Settlement failures: more common and more costly](https://batonsystems.com/insights/editorial/settlement-failures-more-common-and-more-costly/): Alex Knight warns next-day reconciliations leave banks without critical real-time insight, risking payments to failing counterparties & hindering quick action in volatility. - [The year of the election – unpredictable events need vigilance at banks](https://batonsystems.com/insights/editorial/the-year-of-the-election-unpredictable-events-need-vigilance-at-banks/): Alex Knight explains how political events drive market volatility. Learn why proactive risk management is crucial for banks to adapt to changing currency, collateral, and funding dynamics. - [Night at the FX Desk: A Relic that belongs in the Museum](https://batonsystems.com/insights/editorial/night-at-the-fx-desk-a-relic-that-belongs-in-the-museum/): Baton’s Head of EMEA, Alex Knight, explores the challenges of extended trading hours in the FX market and argues for innovative solutions like DLT to tackle challenges over outdated practices like night shifts. - [OSTTRA and Baton Systems partner to launch FX PvP service, mitigating settlement risk in FX markets](https://batonsystems.com/insights/press-releases/osttra-and-baton-systems-partner-to-launch-fx-pvp-service-mitigating-settlement-risk-in-fx-markets/): OSTTRA will operate an on-demand FX PvP service, powered by Baton’s proven DLT, designed to mitigate FX settlement risk - [Baton Systems: BoE’s ambitious wholesale payments plan puts RTGS at “beating heart” of UK financial system](https://batonsystems.com/insights/editorial/baton-systems-boes-ambitious-wholesale-payments-plan-puts-rtgs-at-beating-heart-of-uk-financial-system/): Ravindra Madduri highlights banks' real-time reconciliation challenges. Diverse payment standards across entities create complex hurdles for global payments. - [Citi and JP Morgan vie to extend collateral optimisation to CCPs](https://batonsystems.com/insights/editorial/citi-and-jp-morgan-vie-to-extend-collateral-optimisation-to-ccps/): With high rates & rising CCP needs, optimize collateral. Helen Bartholomew & Tucker Dona explain how Baton's native connectivity reduces cash opportunity cost & streamlines moves. - [Reduce the strain on liquidity management by splitting settlements](https://batonsystems.com/insights/blog-posts/reduce-the-strain-on-liquidity-management-by-splitting-settlements/): Explore how split settlements can ease liquidity management challenges and improve settlement efficiency with Baton’s Core-FX solution - [Payment risk: facing the regulators with confidence](https://batonsystems.com/insights/editorial/payment-risk-facing-the-regulators-with-confidence/): Baton's Alex Knight explains how banks can manage payment risk and react to market changes. Implement no-code hold rules swiftly across all payment functions. - [AI for QA Testing: How We're Advancing QA with Gen AI](https://batonsystems.com/insights/blog-posts/ai-for-qa-testing-how-were-advancing-qa-with-gen-ai/): Explore how generative AI is transforming QA at Baton—automating repetitive tasks, improving test coverage, and freeing up teams to focus on complex scenarios. - [Testing, Testing, 1, 2, 3 – Exploring How AI Accelerates Testing in the Development and Deployment of FinTech Solutions](https://batonsystems.com/insights/editorial/testing-testing-1-2-3-exploring-how-ai-accelerates-testing-in-the-development-and-deployment-of-fintech-solutions/): Nikhil Menon explores how Baton Systems uses generative AI to boost functional testing efficiency & robustness, delivering rigorously tested solutions faster. - [T+1 deadline brings market misalignment into focus](https://batonsystems.com/insights/editorial/t1-deadline-brings-market-misalignment-into-focus/): The approaching T+1 settlement deadline highlights market misalignment, with industry bodies differing on how and when the EU should align with North America. - [JP Morgan Deploys Baton Systems for Collateral](https://batonsystems.com/insights/editorial/jp-morgan-deploys-baton-systems-for-collateral/): JP Morgan’s collateral services team is working with post-trade fintech Baton Systems to enable triparty clients to automate the optimisation of collateral to meet margin calls at a range of clearing houses. - [JP Morgan and Baton Systems team up to expand CCP coverage for collateral management](https://batonsystems.com/insights/editorial/jp-morgan-and-baton-systems-team-up-to-expand-ccp-coverage-for-collateral-management/): JP Morgan’s collateral services unit has collaborated with Baton Systems, by deploying the latter’s Core-Collateral solution to enable tri-party clients to automate the optimisation of collateral to meet margin calls at a range of CCPs. - [Baton Systems collaborates with J.P. Morgan to Expand CCP Coverage for Collateral Management Optimisation Solution](https://batonsystems.com/insights/press-releases/baton-systems-collaborates-with-j-p-morgan-to-expand-ccp-coverage-for-collateral-management-optimisation-solution/): Baton Systems (“Baton”), the global fintech digitally transforming post-trade processing, announced today its work with J.P. Morgan’ Collateral Services team, to enable tri-party clients to automate the optimisation of collateral to meet margin calls at a range of CCPs globally. Baton’s Core-Collateral® solution has been integrated into J.P. Morgan’s CCP Margin Exchange (CCPMx) - [Video: The Full FX Unfiltered – With Baton Systems](https://batonsystems.com/insights/editorial/the-full-fx-unfiltered-with-baton-systems-2/): Alex Knight discusses the understated risk of payment failures. Learn how tech, clean data & analytics mitigate risk and boost efficiency, including multilateral netting pros/cons. - [Intraday FX swaps needs better tech for a prime efficiency revolution](https://batonsystems.com/insights/editorial/intraday-fx-swaps-needs-better-tech-for-a-prime-efficiency-revolution/): As T+1 looms ever nearer, Alex Knight, head of EMEA at Baton Systems, delves into the effect of the shift on FX swaps, highlighting the opportunities they hold for market participants, as well as further establishing the importance of more sophisticated settlement technology. - [The Full FX Unfiltered – with Baton Systems](https://batonsystems.com/videos/the-full-fx-unfiltered-with-baton-systems-3/): Discover how the latest advancements in treasury management tools help banks optimise intraday liquidity and reduce intraday funding cost - [Ballooning margin costs hobble US treasury basis trade returns, research finds](https://batonsystems.com/insights/editorial/ballooning-margin-costs-hobble-us-treasury-basis-trade-returns-research-finds/): Baton's Head of Global Sales and EMEA at Baton Systems, Alex Knight, discusses how firms can better manage ballooning derivatives margin costs via Alex Pugh via The DESK. - [The Uncertainty of T+1](https://batonsystems.com/insights/editorial/the-uncertainty-of-t1/): Alex Knight explains how DLT enables faster, riskless settlement. Achieve full PvP & netting on demand, with instantaneous ownership for same-day settlement. - [Margin on treasury futures spikes in three years](https://batonsystems.com/insights/editorial/margin-on-treasury-futures-spikes-in-three-years/): Margin costs for US treasury future positions has jumped significantly since November 2020, which could be problematic for hedge funds looking to benefit from differences between the derivatives contracts and cash equivalents according to specialist data analytics firm OpenGamma. - [Interoperability: Optimise Payments While Retaining Legacy Tech](https://batonsystems.com/insights/blog-posts/interoperability-optimise-payments-while-retaining-legacy-tech/): Discover how Baton's interoperable technology interoperates with the bank's existing legacy systems and processes to enable firms to benefit from faster and safer asset movements - [Interview: Baton Systems’ Knight on assets mobility and accelerated settlement](https://batonsystems.com/insights/editorial/interview-baton-systems-knight-on-assets-mobility-and-accelerated-settlement-2/): Baton’s Head of Global Sales and EMEA at Baton Systems, Alex Knight, discusses the move to accelerated settlement with Anna Reitman, explaining how firms can use technology to overcome T+1 FX settlement challenges so they can benefit from good liquidity and “still net and safely settle quickly and efficiently” via Finadium. - [DLT Hits Its Stride in Ops](https://batonsystems.com/insights/editorial/dlt-hits-its-stride-in-ops/): Alex Knight explains how DLT is being used “in production right now by Tier 1 banks and has - [Reduce Intraday Funding Needs with Real-time Insight](https://batonsystems.com/insights/blog-posts/reduce-intraday-funding-needs-with-real-time-insight/): Discover how access to high-quality real-time data can help banks reduce intraday funding needs and improve cross-entity cash management. - [Mitigate Payment System Risk with Baton’s On-Demand Rules](https://batonsystems.com/insights/blog-posts/mitigate-payment-system-risk-with-batons-on-demand-rules/): Discover how our no-code rules provide banks with the flexibility they need to meet their specific requirements. - [FIA EXPO 2023: Baton Systems CEO outlines vision for T+1 settlement using DLT](https://batonsystems.com/insights/editorial/fia-expo-2023-baton-systems-ceo-outlines-vision-for-t1-settlement-using-dlt/): Baton’s CEO, Arjun Jayaram discusses the changing cross-border payments & collateral management landscape with FinanceFeeds, Nikolai Isayev - [Counterparty Risk Management with Real-time Reconciliation](https://batonsystems.com/insights/blog-posts/counterparty-risk-management-harness-real-time-reconciliations/): Mitigate counterparty risk with real-time reconciliation. Gain visibility, reduce settlement risk, and automate payment controls using Baton's payment technology. - [Collateral Management: 3 Areas to Automate](https://batonsystems.com/insights/editorial/collateral-management-3-areas-to-automate/): Alistair Griffiths, Director of EMEA Sales at Baton Systems, provides valuable insights into the challenges that firms - [Don’t sweep bilateral settlement risk under the carpet](https://batonsystems.com/insights/editorial/dont-sweep-bilateral-settlement-risk-under-the-carpet/): The Bank for International Settlements (BIS) analysis of the foreign exchange swaps market, with a focus on - [Core-Payments for Business Leaders: Why Real-time Access to Payment Data is Key to Long-term Business Success](https://batonsystems.com/insights/blog-posts/core-payments-for-business-leaders-why-real-time-access-to-payment-data-is-key-to-long-term-business-success/): Alex Knight, Head of EMEA at Baton Systems, explains how Baton’s Core-Payments™ tracks data in real-time and provides leaders with the tools to supervise and manage risk for their business more effectively. - [Baton Systems Launches Automated Settlement Orchestration Platform](https://batonsystems.com/insights/editorial/baton-systems-launches-automated-settlement-orchestration-platform-3/): Baton Systems unveils Core-Payments, a game-changing digital solution for real-time cash settlements. This innovation reduces manual processes, - [Talking Payments – with Baton Systems](https://batonsystems.com/insights/editorial/talking-payments-with-baton-systems-2/): Learn about Baton Systems’ Core-Payments, a groundbreaking solution for real-time payments and cash flow control. Alex Knight - [Risk.net: Core-Payments for business leaders: why real-time access to payment data is key to long‑term business success](https://batonsystems.com/insights/editorial/core-payments-for-business-leaders-why-real-time-access-to-payment-data-is-key-to-long%e2%80%91term-business-success/): Alex Knight, Head of Sales and EMEA at Baton Systems, is prominently featured on Risk. net. Alex emphasises - [Wall Street Need for Speed in Stocks Reshapes FX World](https://batonsystems.com/insights/editorial/wall-street-need-for-speed-in-stocks-reshapes-fx-world/): Baton System’s Head of EMEA, Alex Knight is featured in Bloomberg, the article discusses how the impending - [Baton Systems Launches Automated Settlement Orchestration Platform](https://batonsystems.com/insights/press-releases/baton-launches-automated-settlement-orchestration-platform/): Baton launches new solution to provide banks with automated, comprehensive, and real-time control of their cash settlements. - [Baton Systems Triumphs Again, Winning “Best FX Settlement Innovation” at Euromoney Foreign Exchange Awards 2023](https://batonsystems.com/insights/press-releases/baton-wins-at-euromoney-foreign-exchange-fx-awards-2023/): Baton wins prestigious “Best FX Settlement Innovation“ award at the Euromoney Foreign Exchange Awards 2023 - [Letter: New settlement rules leave FX desks with few options](https://batonsystems.com/insights/editorial/letter-new-settlement-rules-leave-fx-desks-with-few-options/): Baton System’s Head of EMEA, Alex Knight is featured in the Financial Times, sharing insights on how - [Risk.net: Harnessing the power of data to optimise intraday liquidity management](https://batonsystems.com/insights/editorial/harnessing-the-power-data-to-optimise-intraday-liquidity-management/): Baton Systems’ Director of Client Success, Aaron Ayusa’s insightful piece on Risk. net about harnessing real-time data for smarter - [Harnessing the Power of Data to Optimise Intraday Liquidity Management](https://batonsystems.com/insights/blog-posts/harnessing-the-power-of-data-to-optimise-intraday-liquidity-management/): Improve bank liquidity management with real-time data. Predict payment obligations, reduce costs, and enhance control. Learn from Baton Systems' Director of Client Success. - [‘All hands on deck’ as banks rush to prepare for T+1](https://batonsystems.com/insights/editorial/all-hands-on-deck-as-banks-rush-to-prepare-for-t1/): The countdown to the T+1 settlement revolution has begun, and Baton Systems is at the forefront of this - [Settling FX in a T+1 world](https://batonsystems.com/insights/editorial/settling-fx-in-a-t1-world/): Alex Knight warns missing CLS cut-off forces risky bilateral settlement, especially without credit lines. - [Maximising Collateral Margin Efficiency: Gross vs Net](https://batonsystems.com/insights/blog-posts/maximising-collateral-margin-efficiency-gross-vs-net/): Discover how Clearing Members can optimise collateral margin under gross and net models with real-time visibility and greater automation - [T+1 testing begins from Monday with the DTCC deeming it critical for success](https://batonsystems.com/insights/editorial/t1-testing-begins-from-monday-with-the-dtcc-deeming-it-critical-for-success/): The FX industry faces a major challenge ... t+1 settlement for US and Canadian securities is the - [Opinion: Distributed Ledger Tech Has Outgrown the Sandbox](https://batonsystems.com/insights/editorial/opinion-distributed-ledger-tech-has-outgrown-the-sandbox/): In the article, Jerome Kemp, President of Baton Systems, states that “practical and effective applications for DLT - [Global Banks Progressing towards Go-live on the Finteum Platform](https://batonsystems.com/insights/editorial/global-banks-advancing-to-go-live-on-finteum-platform/): The article discusses how global banks are progressing towards going live on the Finteum Platform, a new - [How DLT Supports Better Intraday Liquidity Management for Banks and their Customers](https://batonsystems.com/insights/blog-posts/how-dlt-supports-better-intraday-liquidity-management-for-banks-and-their-customers/): Learn how distributed ledger technology (DLT) enables banks to improve intraday liquidity with real-time visibility, automation, and smarter fund transfers. - [Driving Business Success: The Importance of Post-Trade Operations for Front Office Excellence](https://batonsystems.com/insights/editorial/driving-business-success-the-importance-of-post-trade-operations-for-front-office-excellence/): Alex Knight, Head of EMEA at Baton Systems, emphasises the impact of streamlined post-trade processes on revenue, - [Addressing the Challenges of T+1 with Distributed Ledger Technology](https://batonsystems.com/insights/blog-posts/addressing-the-challenges-of-t1-with-distributed-ledger-technology/): Discover how distributed ledger technology (DLT) enables faster and safer on-demand settlements with complete transparency. - [US settlement revamp creates new risks in US$6.5trn FX market](https://batonsystems.com/insights/editorial/us-settlement-revamp-creates-new-risks-in-us65trn-fx-market/): The US settlement revamp, which will shorten the settlement cycle for US securities, is creating new risks - [Transforming the Way We Move Money in the Digital Era With the Automated Clearing House](https://batonsystems.com/insights/editorial/transforming-the-way-we-move-money-in-the-digital-era-with-the-automated-clearing-house/): Baton Systems is thrilled to be featured in this article about the future of clearing houses and - [DLT Is Promising for FX Settlement, but Not without Challenges](https://batonsystems.com/insights/editorial/dlt-is-promising-for-fx-settlement-but-not-without-challenges/): The article discusses the potential of distributed ledger technology (DLT) to reduce settlement risk in FX markets. - [The Future of Post-Trade DLT: Embracing New Technology](https://batonsystems.com/insights/blog-posts/the-future-of-post-trade-dlt-embracing-new-technology/): Explore how DLT is transforming post-trade operations—reducing risk, improving liquidity, and replacing legacy systems with real-time, secure settlements. - [T+1 sets up headache for cross-currency trades](https://batonsystems.com/insights/editorial/t1-sets-up-headache-for-cross-currency-trades/): The article discusses the challenges and potential risks associated with the shorter settlement cycle (T+1) for securities - [Buy-siders to face rising settlement risks when 2 becomes 1](https://batonsystems.com/insights/editorial/buy-siders-to-face-rising-settlement-risks-when-2-becomes-1/): As the FX market prepares to move from a T+2 settlement cycle to T+1, buy-side firms are - [Derivatives traders are backing future interest-rate driven growth as BofE hikes rates to highest level in 15 years](https://batonsystems.com/insights/editorial/derivatives-traders-are-backing-future-interest-rate-driven-growth-as-bofe-hikes-rates-to-highest-level-in-15-years/): Jerome Kemp discusses how FCMs can overcome margining challenges, optimize cash/non-cash mix, and leverage high interest rates for revenue opportunities. - [Acuiti and ION publish FCM research](https://batonsystems.com/insights/editorial/acuiti-and-ion-publish-fcm-research-2/): A research report by Acuiti, in partnership with ION, highlights that almost two-thirds of futures commission merchants - [Time for better tech as firms fail to tackle trade fails](https://batonsystems.com/insights/editorial/time-for-better-tech-as-firms-fail-to-tackle-trade-fails/): The article emphasises the need for technological innovation to address settlement failures in financial markets. Alistair Griffiths, - [The Full FX Unfiltered – With Baton Systems](https://batonsystems.com/insights/editorial/the-full-fx-unfiltered-with-baton-systems/): Baton Systems CEO Arjun Jayaram and Colin Lambert discuss the evolving FX settlement landscape, highlighting DLT's increasing role in post-trade transformation and benefits for trading desks. --- # # Detailed Content ## Pages > Explore how Baton's DLT transforms settlement and liquidity management with faster, safer and more efficient asset movements. - Published: 2025-05-20 - Modified: 2025-06-17 - URL: https://batonsystems.com/solutions/dlt-empowering-industry-networks/ - Categories: Use Cases DLT: Empowering Industry Networks Using institutional-grade Distributed Ledger Technology (DLT) to Transform Settlement and Liquidity Management for Faster, Safer and More Efficient Asset Movements Contact the Baton Team The Future of Asset Movements Baton Systems' institutional-grade Distributed Ledger Technology (DLT) is redefining the future of asset movements, delivering faster, safer, and more efficient post-trade processes. Trusted by the world’s largest financial institutions, our proven DLT has already processed over $13 trillion in asset movements, enabling firms to eliminate inefficiencies, mitigate risk, and scale their operations to support business growth. As the financial sector evolves toward a 24/7 digital economy, Baton is at the forefront of this transformation, using its technology to power industry-led, collaborative networks that drive unprecedented settlement efficiency and liquidity optimisation. Discover how Baton’s DLT is powering a collaborative PvP network that's reducing settlement risk and bolstering liquidity efficiencies for cross-border payments. Learn more Why Baton's Institutional-Grade DLT Powers Smarter, Faster Networks Baton’s DLT-inspired Shared Permissioned-Ledger integrates seamlessly with existing systems, and is now being used to enable industry-led networks that prioritise flexibility, transparency, and scalability. These networks enable financial institutions to optimise settlements and adjacent processes, improve liquidity management, and maximise capital efficiency — empowering banks to excel in today’s fast-evolving settlement landscape and prepare for a digital future. Transparent and Collaborative DLT-powered Networks Baton's DLT empowers networks that facilitate transparency and collaboration across institutions by creating tamper-proof records and enabling real-time interaction based on agreed rules of engagement. Transparency: All transactional workflows are fully captured and... --- > Download our white papers to gain an understanding of how your institution could optimise it's approach to intraday liquidity management. - Published: 2025-05-15 - Modified: 2025-06-25 - URL: https://batonsystems.com/insights/white-papers/ Baton White Papers Download our white papers to gain a detailed understanding of how your institution could optimise it's approach to intraday liquidity management. Master Intraday Liquidity Risk: Implement ECB Guidelines with Confidence Intraday Liquidity and Risk: The Hundred Million Dollar Challenge --- > Discover Baton's FX settlement and post-trade processing capabilities - faster, safer and automatically synchronised. - Published: 2025-05-13 - Modified: 2025-06-17 - URL: https://batonsystems.com/solutions/fx-settlement-with-core-fx-collaborative-flexible-and-secure/ FX Settlement with Core-FX: Collaborative, Flexible and Secure Increase liquidity efficiency and minimise FX settlement risk with Baton's DLT-powered on-demand, netting and PvP settlement capabilities request a demo “Since 2018, HSBC FX Everywhere has used Baton’s Core FX technology to settle 16 million FX trades across 13 different currencies totalling US$8. 1 trillion. ” Mark Williamson, Global Head of FX & Commodities Partnerships & Propositions at HSBC, March 2024 Baton’s DLT: $13T+ Settled to dateBaton's live distributed ledger technology (DLT) enables the secure, on-demand orchestration of Payment-vs-Payment (PvP) settlement for billions of dollars every day. To enhance liquidity efficiencies, cut costs, and minimise settlement risks banks need the capabilities to efficiently net and settle FX transactions across currencies with the speed, certainty, and security of atomic atomic settlement via PvP. Baton’s enterprise-grade DLT-inspired Shared Permissioned-Ledger, the powerhouse behind our Core-FX solution, delivers the resiliency, transparency and speed required. This collaborative solution provides continuous, automated netting, seamlessly integrated with on-demand, instantaneous PvP settlement - at a gross, net, or split level - across major and emerging market currencies. The result: FX post-trade processing that’s faster, safer and automatically synchronised. Award-winning technology designed to enhance liquidity efficiencies and minimise settlement risk. JTNDaWZyYW1lJTIwc3JjJTNEJTIyaHR0cHMlM0ElMkYlMkZwbGF5ZXIudmltZW8uY29tJTJGdmlkZW8lMkY2NTg0NzI2NzQlM0ZhdXRvcGxheSUzRDElMjZsb29wJTNEMSUyNmJhY2tncm91bmQlM0QxJTI2YXV0b3BhdXNlJTNEMCUyMiUyMHdpZHRoJTNEJTIyNjQwJTIyJTIwaGVpZ2h0JTNEJTIyMzYwJTIyJTIwZnJhbWVib3JkZXIlM0QlMjIwJTIyJTIwYWxsb3clM0QlMjJhdXRvcGxheSUzQiUyMGZ1bGxzY3JlZW4lMjIlMjBhbGxvd2Z1bGxzY3JlZW4lM0UlM0MlMkZpZnJhbWUlM0U= Accelerating Global Access to Atomic Settlement via PvP with OSTTRA Baton's distributed ledger technology powers OSTTRA’s FX PvP settlement orchestration service. Discover how we’re collaborating to build a settlement network designed to increase global access to PvP settlement for all market participants. Learn more about FX PvP Settlement Real-time Technology... --- > Discover how an intraday liquidity calculator can help mid-tier banks cut costs on liquidity buffers and boost efficiency. - Published: 2025-04-08 - Modified: 2025-05-19 - URL: https://batonsystems.com/solutions/real-time-intraday-liquidity-management-solution/intraday-liquidity-calculator/ Intraday Liquidity Calculator: Managing intraday liquidity buffers and understanding the fully loaded cost to your institution Today, the annual cost of intraday liquidity buffers for a mid-tier bank is estimated to be over USD $100 million - a bill that could be significantly reduced through more effective intraday liquidity management. If you would like to receive an estimate of the annual costs your institution incurs in maintaining liquidity buffers to support intraday requirements, please provide your details below, and a member of our team will contact you shortly. Discover our intraday liquidity management solution Baton’s modular intraday liquidity management software provides a real-time liquidity oversight and optimisation platform. Offering enterprise-wide visibility and control, institutions can monitor and manage cash positions with precision, cut funding costs, and strengthen financial resilience. With Baton banks benefit from: Real-time, enterprise-wide, liquidity monitoring Granular historical insights, payment traceability and analysis capabilities Precision intraday liquidity demand forecasting tools Real-time alerts and early warning indicators Automated, optimised and conditional payment execution controls Liquidity throughput monitoring and management tools Extensive stress testing and scenario building capabilities 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 Intraday Liquidity Calculator: Receive an estimate of your institution's annual intraday liquidity buffer costs JTNDc2NyaXB0JTIwY2hhcnNldCUzRCUyMnV0Zi04JTIyJTIwdHlwZSUzRCUyMnRleHQlMkZqYXZhc2NyaXB0JTIyJTIwc3JjJTNEJTIyJTJGJTJGanMuaHNmb3Jtcy5uZXQlMkZmb3JtcyUyRmVtYmVkJTJGdjIuanMlMjIlM0UlM0MlMkZzY3JpcHQlM0UlMEElM0NzY3JpcHQlM0UlMEElMjAlMjBoYnNwdC5mb3Jtcy5jcmVhdGUlMjglN0IlMEElMjAlMjAlMjAlMjBwb3J0YWxJZCUzQSUyMCUyMjIwNjcwODMzJTIyJTJDJTBBJTIwJTIwJTIwJTIwZm9ybUlkJTNBJTIwJTIyNDllMTg0MDAtYjM0NC00ZGU1LThiYzYtMTNmNTEyNjhjZDFlJTIyJTBBJTIwJTIwJTdEJTI5JTNCJTBBJTNDJTJGc2NyaXB0JTNF --- > Download our white paper to explore risks, costs, and revenue impacts of intraday liquidity management. - Published: 2025-04-08 - Modified: 2025-06-09 - URL: https://batonsystems.com/insights/white-papers/intraday-liquidity-and-risk-management/ ｜WHITE PAPER Intraday Liquidity and Risk: The Hundred Million Dollar Challenge Download the White PaperEffectively managing the risks, costs, and revenue impacts of intraday liquidity has become critical for financial institutions. By addressing these challenges, institutions can reduce inefficiencies, uncover new revenue streams, and implement real-time liquidity capabilities essential for thriving amid accelerated settlement cycles and increasing regulatory demands. For mid-tier banks, the annual cost of maintaining intraday liquidity buffers often surpasses $100 million. As settlement timelines shorten, geopolitical tensions rise, and volatility increases, precise intraday liquidity management has become more urgent than ever. Real-time visibility into liquidity positions is key to navigating these challenges and maintaining stability in a fast-moving environment. This white paper delves into the critical concepts behind effective intraday liquidity management. It explores the implications of current challenges faced by financial institutions and the practical constraints experienced in addressing them, including technological limitations, market structure factors - particularly cross-border issues around correspondent banking - and internal business drivers. Download the white paper to gain insights into: The latest challenges and trends: Explore the impact of T+1, tokenisation, DLT, and regulatory shifts on intraday liquidity management. Cost-saving strategies: Discover the actual cost of intraday liquidity buffers and explore practical steps institutions can take to reduce their size. Revenue generation possibilities: Learn how new intraday markets for FX swaps and repos, plus other opportunities, could be leveraged by institutions able to effectively manage and accurately forecast surplus liquidity. Welcome to our Intraday Liquidity and Risk Series This is... --- > Navigate financial and geopolitical risks. Learn how to manage operating and event risks, leverage AI, and build resilient risk frameworks for your bank's future. - Published: 2025-03-28 - Modified: 2025-06-25 - URL: https://batonsystems.com/insights/video-managing-operating-risk-and-event-risk-in-financial-markets/ ｜VIDEO｜WEBINAR｜ RISK MANAGEMENT Managing Operating Risk and Event Risk in Financial Markets 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Recent financial and non-financial events, including Brexit, the Eurozone crisis, the 2023 collapse of various banks and current geopolitical issues have highlighted to both senior banking leaders and regulators significant operating risk challenges. In this webinar, industry leaders Nick Wilcock, Director and Head of Non-Financial Risk at Delta Capita, and Ross Dilworth, Chief Problem Solver at RDX Strategy, discuss the issues banks face managing operating risks and event risks, key considerations and the actions can banks take to better prepare for future events. Topics explored include: Why it’s important banks consider the 360 operating risk impact of events How AI and model risk management, the emergence of new asset classes and other developments could present fresh operating risk management challenges for banks in the next 2-5 years Why mitigating the operating risk impact of future events requires senior bank leaders to focus right now on risk management frameworks, organisational design, and clarity around areas of responsibility and ownership The value of authentic horizon scanning in preparing for future risk events The benefits banks can reap every day by improving operating risk management processes for future events Video Music by: Bensound. com/royalty-free-music License code: MWDUXIKBLFTD3P2W Blog Posts Financial Resiliency: Why Intraday Liquidity Management Needs a Rethink Why Scaling Your Business and Growing Revenues Requires Robust Enterprise-wide Post-trade Risk Controls How can you make the right risk decision without up-to-date information? Mitigating Counterparty Risk: Harness the Power of Real-time Reconciliations... --- > Understand the impact of ccp connectivity on managing complex collateral relationships in today's financial landscape. - Published: 2025-03-28 - Modified: 2025-06-19 - URL: https://batonsystems.com/post-trade-processing-solutions/data-integration-manager/accelerate-venue-and-ccp-connectivity/ USE CASE｜INTEGRATION MANAGER Accelerating Venue and CCP Connectivity Integrate Data from Multiple Sources Including CSDs, Carry and Clearing Brokers, CCPs and Other Venues Quickly and Efficiently with Baton’s Integration Manager The Challenge: Achieving Accurate Data Consolidation for Real-time Insight Financial institutions face growing pressure to achieve real-time visibility into the sources and uses of their collateral. Managing collateral relationships across multiple central counterparties (CCPs) and other venues while juggling holdings of unencumbered assets across a spectrum of custodians, central securities depositories (CSDs), and nostro account providers has created a landscape of remarkable complexity. One under pressure as the value of collateral being posted continues to rise. To effectively navigate these challenges, institutions need to achieve a unified, real-time view of their assets across cash and securities. Yet this presents significant issues due to: Fragmented and Inconsistent Data Streams: Data from CCPs, custodians, and other sources often arrives in disparate formats, with varying frequency and via a range of delivery channels. Aggregating and standardising this information using traditional data integration methods can prove error-prone and resource-intensive. Prolonged Integrations: Onboarding new data feeds or adapting to system updates requires significant time and developer resources, delaying operations and hampering scalability. As a result, many firms struggle to consolidate data for accurate real-time insights, hindering effective collateral management decision-making, risk assessment, and optimisation efforts. To address these challenges, firms need a comprehensive, robust and scalable solution that: Provides real-time data aggregation to deliver a unified view of cash and securities collateral across all sources,... --- > Stay informed with the latest news on Baton Systems' innovative solutions and perspectives. Learn how we are leading the change in financial markets. - Published: 2025-03-27 - Modified: 2025-06-01 - URL: https://batonsystems.com/insights/editorial/ EditorialExternal Publications --- > Discover how Baton's Balance Manager can optimize operations, improve efficiency, and drive success in projects. - Published: 2025-03-05 - Modified: 2025-05-18 - URL: https://batonsystems.com/post-trade-processing-solutions/balance-manager/ Real-time Visibility and Control Across all Account Balances Monitor and Manage Cash Account Balances in Real-time with Baton’s Balance Manager request a demo Manage Intraday Liquidity with Real-time Visibility Many financial institutions face a critical blind spot: consistent, real-time visibility into their full range of account balances. The challenge of aggregating and analysing fragmented, non-standardised account data - often delivered in inconsistent formats and with irregular updates - is compounded by the fact that most firms maintain multiple accounts across various institutions and locations. This makes it nearly impossible to track positions or generate timely, actionable insights without the benefit of automated processes, such as the Balance Manager. Yet account holders need to actively monitor their balances both individually and in aggregate as they fluctuate throughout the day. These real-time insights, a key feature of the Balance Manager, are essential inputs for intraday actions, liquidity analysis, regulatory reporting and effective intraday liquidity management. Without them, and without a robust Balance Manager, inefficiencies such as avoidable overdrafts, missed opportunities to earn interest, and poor resource allocation can arise, highlighting the necessity of a comprehensive Balance Manager solution. Baton's Balance Manager changes the game, providing real-time, consolidated visibility across all account balances in a standardised manner. Balance Manager delivers the information needed for intelligent and informed decision-making, to minimise risks, maximise resources, and confidently meet regulatory requirements—all in one powerful solution. Read Our Blog Post on Baton's Low-Code Data Integration Tool How the Balance Manager Works 1) Data Integration Made Simple The... --- > Accelerate data integration by 90%, helping banks consolidate fragmented data to power automated workflows and real-time insights. - Published: 2025-03-04 - Modified: 2025-06-11 - URL: https://batonsystems.com/post-trade-processing-solutions/data-integration-manager/ Simplify Data Integration and Accelerate Business Transformation Reduce Integration Timelines by Almost 90% with Baton's Low-code Integration Manager request a demo Low-Code Data Integration Tool: Improve Data Accuracy and Availability Financial institutions struggle with fragmented, inconsistent data from silos and legacy systems, severely impacting data integration capabilities. Consequently, obtaining accurate real-time insights, making informed decisions, and ensuring compliance become difficult. Furthermore, it prevents firms from leveraging data across business lines. Regulators are urging action. The Bank of England PRA's 2025 priorities letter identified poor data as a root cause of many risks, calling for improved data aggregation to support holistic risk management. Similarly, the ECB’s May 2024 guide on effective risk data aggregation and risk reporting highlights the importance of robust risk data integration. Yet many firms rely on outdated, costly, and error-prone data integration methods or unscalable custom integrations. Baton's low-code Integration Manager solves these issues accelerating data integration, connecting siloed systems and streamlining processes. The Integration Manager seamlessly aggregates and standardises data streams, ensuring structured and traceable flows across systems that's able to support automated workflows across business lines. Improving data accuracy and availability, the consolidated data can then be used to generate real-time business-specific insights - providing a foundation for informed decision-making, comprehensive risk management and improved intraday liquidity management. Read Our Blog Post on Baton's Low-Code Data Integration 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 Seamless Data Integration with Baton Introducing the Integration Manager With multiple business lines and departments—such as operations, risk management, and funding—each managing its own data and workflows,... --- > Gain real-time eligible collateral insights for reduced risk and optimized efficiency with Baton's Eligibility Service. - Published: 2025-02-19 - Modified: 2025-06-11 - URL: https://batonsystems.com/post-trade-processing-solutions/automated-eligible-collateral-evaluation/ - Categories: Use Cases Enable Smarter Decisions with Best-In-Class Data on Eligible Collateral Streamline and enhance the process of evaluating collateral eligibility with Baton’s Eligibility Service, enabling accurate and informed decision-making request a demo Eligible Collateral Evaluation: Simplified and streamlined Collateral optimisation hinges on accurately evaluating eligible collateral, yet many institutions still rely on outdated manual processes to collect and communicate this information, increasing cost and risk. These slow and inefficient processes can fuel delayed decision-making; result in over-pledging higher-cost assets (or even mistakenly pledging ineligible collateral assets) and a reliance on pledging high-quality liquid assets (HQLAs) to mitigate the risk of lower-liquidity assets being rejected. The impact? Missed opportunities, risk exposure and inefficient financial resource management. You now have the opportunity to rethink your firm's approach to evaluating collateral eligibility. Baton’s Eligibility Service simplifies and streamlines the complex process of assessing collateral asset eligibility across diverse counterparty requirements for cleared derivatives, bilateral agreements, and tri-party arrangements. With real-time insights on asset eligibility, fees, rates, and settlement windows, collateral managers can reduce errors and make confident, more informed funding decisions. Baton's Eligibility Service transforms the process of eligible collateral evaluation, increasing speed, precision, and cost-efficiency for both cash and non-cash assets. Empowering financial institutions with unparalleled clarity and control, firms can optimise collateral allocations while driving superior operational efficiency and scalability. Why Choose Baton for Eligible Collateral Evaluation? Baton transforms collateral eligibility management with a streamlined platform that simplifies and automates complex collateral evaluation matching processes. Designed to accommodate intricate variations in eligibility criteria... --- > Expert guide for financial institutions on implementing the tools to meet the ECB's Sound Practices for Managing Intraday Liquidity Risk. - Published: 2024-12-12 - Modified: 2025-06-23 - URL: https://batonsystems.com/insights/white-papers/mastering-intraday-liquidity-risk/ ｜WHITE PAPER Master Intraday Liquidity Risk: Implement ECB Guidelines with Confidence Discover how your firm can comply with the ECB's sound practices for managing intraday liquidity risk, while improving liquidity efficiencies and financial resilience Download the White Paper Managing Intraday Liquidity Risk with Real-time Visibility and Control Managing intraday liquidity risk is rapidly becoming a top priority for both market participants and supervisory bodies globally. In November 2024, the European Central Bank (ECB) published a series of sound practices for managing intraday liquidity risk, however implementing the ECB's guidelines is presenting considerable challenges for many firms. This white paper Master Intraday Liquidity Risk: Implement ECB Guidelines with Confidence provides a practical guide for financial institutions keen to adopt modular technology-driven solutions that align with the ECB's November 24 guidance. Furthermore, it explains how these solutions also enable firms to enhance operational and liquidity efficiencies and financial resilience. Read our blog post "Intraday Liquidity Optimisation: A Treasury Manager’s Guide to Tooling" to learn more. Managing Intraday Liquidity Risk: The Challenges Intraday liquidity shortfalls present immense operational and systemic risks, demanding real-time solutions for timely decision-making. Yet, many institutions are constrained by outdated legacy processes and siloed systems generating fragmented data, leaving them unable to attain enterprise-wide, real-time liquidity visibility or accurately forecast intraday liquidity demands. Baton’s intraday liquidity risk management software addresses these inefficiencies head-on, empowering institutions to accurately predict and plan for demands on intraday liquidity, more effectively meet payment obligations, prioritise outflows, and achieve operational efficiency even in volatile... --- > Discover Baton's modular intraday liquidity management solution. Real-time firm-wide insights, precision forecasting and automated controls. - Published: 2024-08-16 - Modified: 2025-06-23 - URL: https://batonsystems.com/solutions/real-time-intraday-liquidity-management-solution/ - Categories: Use Cases Real-time Intraday Liquidity Management Intraday liquidity management solutions that enable financial institutions to proactively mitigate intraday liquidity risk, reduce funding costs and optimise liquidity positions with real-time visibility and control request a demo Optimise Intraday Liquidity Management Banks often struggle to mitigate intraday liquidity shortfalls or fully optimise intraday liquidity use and payment flows due to outdated manual processes and siloed systems that limit real-time, enterprise-wide visibility. Real-time liquidity data often exists, but their inability to quickly aggregate and analyse it with additional insights hinder early warning detection. Challenges accurately predicting inbound payment timings and forecasting intraday demands further complicates matters, as does the lack of automated and controlled payment sequencing tools. Baton’s modular intraday liquidity management software provides a real-time liquidity oversight and optimisation platform. Offering enterprise-wide visibility and control, institutions can monitor and manage cash positions and intraday liquidity requirements with precision, cut funding costs, assess whether intraday buffers can be reduced, and strengthen financial resilience. With Baton banks benefit from: Real-time, enterprise-wide, liquidity monitoring Granular historical insights, payment traceability and analysis capabilities Precision intraday liquidity demand forecasting tools Real-time alerts and early warning indicators Automated, optimised and conditional payment execution controls Liquidity throughput monitoring and management tools Extensive stress testing and scenario building capabilities JTNDZGl2JTIwc3R5bGUlM0QlMjJwYWRkaW5nJTNBNTYuMjUlMjUlMjAwJTIwMCUyMDAlM0Jwb3NpdGlvbiUzQXJlbGF0aXZlJTNCJTIyJTNFJTNDaWZyYW1lJTIwc3JjJTNEJTIyaHR0cHMlM0ElMkYlMkZwbGF5ZXIudmltZW8uY29tJTJGdmlkZW8lMkYxMDA4NzMwMzUyJTNGYmFkZ2UlM0QwJTI2YW1wJTNCYXV0b3BhdXNlJTNEMCUyNmFtcCUzQnBsYXllcl9pZCUzRDAlMjZhbXAlM0JhcHBfaWQlM0Q1ODQ3OSUyMiUyMGZyYW1lYm9yZGVyJTNEJTIyMCUyMiUyMGFsbG93JTNEJTIyYXV0b3BsYXklM0IlMjBmdWxsc2NyZWVuJTNCJTIwcGljdHVyZS1pbi1waWN0dXJlJTNCJTIwY2xpcGJvYXJkLXdyaXRlJTIyJTIwc3R5bGUlM0QlMjJwb3NpdGlvbiUzQWFic29sdXRlJTNCdG9wJTNBMCUzQmxlZnQlM0EwJTNCd2lkdGglM0ExMDAlMjUlM0JoZWlnaHQlM0ExMDAlMjUlM0IlMjIlMjB0aXRsZSUzRCUyMkJhdG9uJTIwSW50cmFkYXklMjBMaXF1aWRpdHklMjBNYW5hZ2VtZW50JTNBJTIwT3B0aW1pc2VkJTIyJTNFJTNDJTJGaWZyYW1lJTNFJTNDJTJGZGl2JTNFJTNDc2NyaXB0JTIwc3JjJTNEJTIyaHR0cHMlM0ElMkYlMkZwbGF5ZXIudmltZW8uY29tJTJGYXBpJTJGcGxheWVyLmpzJTIyJTNFJTNDJTJGc2NyaXB0JTNF Discover how our intraday liquidity management solution could support your treasury team Download more information about our modular intraday liquidity management software Manage and Control Intraday Liquidity Risk Streamline and simplify compliance with the ECB's intraday liquidity risk management principles using Baton's... --- > Transforms post-trade risk management with real-time visibility & control, helping firms mitigate counterparty, payment, and operational risks - Published: 2024-07-05 - Modified: 2025-05-01 - URL: https://batonsystems.com/solutions/real-time-payment-control/post-trade-risk-reduction-with-core-payments/mitigate-post-trade-risk/ - Categories: Use Cases Transform Your Firm’s Ability to Proactively Mitigate Post-trade Risk Would your firm’s counterparty, payment, liquidity and operational risk management controls withstand regulatory scrutiny? As risk managers grapple regulatory and internal pressures to more effectively manage and mitigate post-trade risk in a changing environment, the only constant appears to be the perpetual restrictions generated by their legacy and siloed systems and processes. Designed to liberate banks from legacy constraints, Core-Payments enables risk managers to achieve their nirvana and effectively and proactively identify, assess and mitigate risk with complete real-time visibility and control. Read on to explore the configurable no/low code rules and robust controls risk managers can automatically instigate to mitigate risk across all payment flows and business lines. Robust Controls Across All Payment Flows and Business Lines to Mitigate Post-Trade Risk Core-Payment’s configurable no/low code rules and robust controls empower risk managers to mitigate risk across all payment flows and business lines, with the ability to: Create low-code risk controls powered by real-time, aggregated, payment data and analysis Orchestrate the automated, controlled and safe release of settlements on a firm-wide basis Control the release of payments across all channels with configurable and auditable no-code hold and release payment controls Automatically adjust risk management strategies and controls in real-time in response to intraday developments Stress counterparty and liquidity conditions quickly in order to understand your firm’s resiliency based on the realistic factors that could have a material business impact. These are rules and controls available through Core-Payments 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 Baton's no-code payment... --- > Explore our white papers and industry articles to see how Baton's innovative solutions are transforming asset movement and settlement in financial markets. - Published: 2024-06-18 - Modified: 2025-06-01 - URL: https://batonsystems.com/insights/industry-articles-use-cases/ Baton Industry Articles & Use CasesContact our expertsWhite Papers & Industry ArticlesPodcast Series: Transforming 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 up-to-date with our latest news, events and insights. NEWSFact Sheets & Use Cases Contact our Experts To learn more about our post-trade solutions, please provide your details and one of our experts will contact you 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 --- > Explore our blog posts discussing key industry challenges & latest innovations in post-trade processing technology - Published: 2024-06-18 - Modified: 2025-06-01 - URL: https://batonsystems.com/insights/blog-posts/ Baton Blog PostsExplore our blog to learn about the latest innovations in post-trade processing technology. Gain insights from industry experts on the issues and challenges impacting post-trade payments processing, settlement, collateral management and intraday liquidity management and discover how our real-time solutions are transforming financial markets and presenting new opportunities. subscribe to our blog postsBlog PostsREAD MORE Blog PostsStay up-to-date with our latest news. Read Baton's NEWSSign-up to our 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This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. --- > Core-Payments offers enhanced post-trade risk reduction through real-time oversight, automation, and risk reduction - Published: 2024-05-15 - Modified: 2025-05-18 - URL: https://batonsystems.com/solutions/real-time-payment-control/post-trade-risk-reduction-with-core-payments/ - Categories: Use Cases Post-Trade Risk Reduction with Core-Payments® Proactively mitigate post-trade risk with real-time visibility and an advanced level of control across the entire operational lifecycle, wholesale payments process and all business silos. request a demo Download the Managing Intraday Liquidity Risk White Paper Download Now Post-Trade Risk Reduction Challenges Reducing post trade risks – including payment, operational, liquidity and counterparty risks - challenges many banks. Siloed systems, delayed batch-generated data, and escalation and operational processes requiring manual intervention, mean teams lack critical real-time visibility into payment and settlement flows, or access to automated firm-wide risk controls. These limitations leave firms vulnerable to inefficiencies, operational errors, and potential disruptions. Core-Payments enables banks to overcome these constraints providing access to real-time and historical payment intelligence, actionable analytics, and automated, conditional, controls. Delivering the real-time oversight and control required for post trade risk reduction, Core-Payments empowers firms to more effectively process safe and optimised payments and settlements across all business areas. 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 Watch the video to learn more about Core-Payments. Delivering Post Trade Risk Oversight and Control Core-Payments is designed to transform post trade risk management, enabling banks to tackle key operational, counterparty and liquidity risks while streamlining processes, maintaining business agility and efficiencies. Why Core-Payments? Complete Visibility – Consolidate data from across business silos into real-time, intuitive dashboards. Proactive Post Trade Risk Mitigation – Leverage data-driven predictive analytics to detect issues and automate swift responses. Enhanced Payment Risk Control – Instantly activate firm-wide payment hold and release rules across all required payments and settlements.... --- > Core-Payments supports post-trade operations with real-time insights & automation, mitigating risks, and reducing costs. - Published: 2024-05-02 - Modified: 2025-05-18 - URL: https://batonsystems.com/solutions/real-time-payment-control/post-trade-operations/ - Categories: Use Cases Optimising Post-trade Operations Discover how Core-Payments® could help your firm to enhance risk management and control across the entire post-trade operations process, empower your business to scale and introduce a new level of efficiency with automated, configurable workflows powered by real-time payment data. request a demo Automate and Increase Netting to Drive Post-Trade Efficiencies Read the Blog Post Systematically Mitigate Post-trade Operations Risks, Elevate Efficiency and Reduce Operations Costs Outdated and costly post-trade payment and settlement processes, often requiring manual intervention, generate significant challenges for post-trade operations. With limited oversight, a lack of real-time payment information and siloed payment controls, operations managers often struggle to proactively and systematically mitigate emerging operational risks, drive efficiency programs and effectively reduce operational costs. Designed to enable post-trade operations to overcome these limitations, Core-Payments: Automates operationally intensive processes - powering configurable workflows with real-time data to reduce operational risk, increase capacity, generate efficiencies and cost reductions. Provides complete oversight across the end-to-end payment and settlement process and access to real-time payments intelligence. Equips firms to proactively reduce payment risk with the ability to instantly implement consistent firm-wide payment controls. Empowers users to automate safe-settlement via payment on payment (PoP) mechanisms with the ability to configure and control the release of payment instructions. Core-Payments: Bringing structure, consistency, control and auditability to the post-trade operational management of payment functions. Real-time Payment Reconciliations • Automated Configurable Netting • Automated Pre-Settlement Affirmations • Automated Settlement Splitting • Real-time Payment Insight • Firm-Wide Payment Hold and Release Controls JTNDZGl2JTIwc3R5bGUlM0QlMjJwYWRkaW5nJTNBNTYuMjUlMjUlMjAwJTIwMCUyMDAlM0Jwb3NpdGlvbiUzQXJlbGF0aXZlJTNCJTIyJTNFJTNDaWZyYW1lJTIwc3JjJTNEJTIyaHR0cHMlM0ElMkYlMkZwbGF5ZXIudmltZW8uY29tJTJGdmlkZW8lMkY5NzM4NDk3MjAlM0ZiYWRnZSUzRDAlMjZhbXAlM0JhdXRvcGF1c2UlM0QwJTI2YW1wJTNCcGxheWVyX2lkJTNEMCUyNmFtcCUzQmFwcF9pZCUzRDU4NDc5JTIyJTIwZnJhbWVib3JkZXIlM0QlMjIwJTIyJTIwYWxsb3clM0QlMjJhdXRvcGxheSUzQiUyMGZ1bGxzY3JlZW4lM0IlMjBwaWN0dXJlLWluLXBpY3R1cmUlM0IlMjBjbGlwYm9hcmQtd3JpdGUlMjIlMjBzdHlsZSUzRCUyMnBvc2l0aW9uJTNBYWJzb2x1dGUlM0J0b3AlM0EwJTNCbGVmdCUzQTAlM0J3aWR0aCUzQTEwMCUyNSUzQmhlaWdodCUzQTEwMCUyNSUzQiUyMiUyMHRpdGxlJTNEJTIyQ29yZS1QYXltZW50cyUyMC0lMjBIb3clMjBpdCUyMHdvcmtzJTIyJTNFJTNDJTJGaWZyYW1lJTNFJTNDJTJGZGl2JTNFJTNDc2NyaXB0JTIwc3JjJTNEJTIyaHR0cHMlM0ElMkYlMkZwbGF5ZXIudmltZW8uY29tJTJGYXBpJTJGcGxheWVyLmpzJTIyJTNFJTNDJTJGc2NyaXB0JTNFrequest... --- > Discover Baton Systems' innovative no-code hold and release controls to manage payment risk and reduce settlement failures in real time. - Published: 2024-04-09 - Modified: 2025-05-18 - URL: https://batonsystems.com/solutions/real-time-payment-control/wholesale-payment-risk-management/ - Categories: Use Cases Real-time Payment Risk Management Manage payment risk and settlement failures with the robust and automated stop and release payment controls provided by Core-Payments’® request a demoManage Payment Risk and Reduce Settlement FailuresMarket participants and policy makers are increasingly focused on managing wholesale payment risk. In times of market volatility or when a counterparty becomes a concern, just one erroneous payment could result in existential risk. However, managing payment process risk mitigation on a firm-wide basis can prove technically challenging and operationally intensive. Payments are generated by diverse business areas and across various flows governed by siloed applications controlled at the business level. Enabling banks to manage payment risk at scale and reduce settlement risk, Core-Payment’s no-code hold and release rules introduce a new level of control. Strengthening operational resilience across the entire payments process, our no-code rules can be configured to immediately stop all required payments from being executed across all business areas and flows. Core-Payment’s no-code rules provide yet another example of how Baton Core’s interoperable and extensible business-led design enables banks to put in place smart and highly configurable workflows and effective controls. 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 Watch to learn how our no-code rules support effective payment risk management request a demo Does your firm have sufficient control over it’s payments? Read the Article Payment Risk Management with Baton's No-Code Rules The Benefits Reduce Settlement Failures with Robust Payment Controls Core-Payment’s no-code hold rules can be quickly and easily created or modified. Configurable at a counterparty, currency, value and date level... --- > Meet Chingiz Mammadov, Baton Systems' Head of Finance. With CFO experience & 12+ years in structured lending, he brings strategic financial leadership. - Published: 2023-04-06 - Modified: 2025-06-01 - URL: https://batonsystems.com/chingiz-mammadov/ Chingiz Mammadov Director of Finance, Baton Systems Chingiz Mammadov heads the Finance function at Baton Systems. He was previously the Chief Financial Officer of Manigo Services, a London-based BAAS fintech company. Prior to this, Chingiz spent over twelve years in structured lending at Credit Suisse and VTB Capital evaluating, structuring, and executing complex debt investments in Emerging Markets with executed aggregate deal volume of over US$4. 5 billion. He also previously worked at Fidelity Investments in credit fund management and at Liberty Mutual in group insurance underwriting. Chingiz holds a BA in Economics from Colby College in the US and an MBA from INSEAD. Meet the rest of the team --- > Ravindra Madduri is the Global Head of Product Management at Baton Systems. He brings 25+ years of experience across Banking and FinTechs. - Published: 2023-01-19 - Modified: 2025-06-25 - URL: https://batonsystems.com/ravindra-madduri/ Ravindra Madduri Global Head of Product Management, Baton Systems Ravindra Madduri is the Global Head of Product Management at Baton Systems. He brings 25+ years of experience across Banking and FinTechs to the role. Prior to joining Baton, Ravi was Head of Enterprise Products at Paysend and previously was Global Business Head for Payments-as-a-Service at Finablr. Ravi’s banking career spanned Barclays, RBS, ABN AMRO & Citigroup in Payments & Cash Management. There, he held leadership roles across product management, client propositions, strategic transformation, innovation and business change. He is involved in an advisory capacity to founders of early-stage start-ups in the EduTech & MedTech space. At Baton, Ravi is focused on product management, product delivery & design management across every step of Baton’s product lifecycle — from development to positioning and pricing — driving growth though customer focused business transformation. Ravi holds an MBA from London Business School and a MTech from Indian Institute of Technology, Mumbai. He currently resides in the UK. Meet the rest of the team --- > Ragu is responsible for delivering client success in implementation and ongoing support for Baton Systems’ Cleared Collateral solutions. - Published: 2022-11-22 - Modified: 2025-06-24 - URL: https://batonsystems.com/ragu-raymond/ Ragu Raymond Director of Business Development & Client Success, Baton Systems Ragu is responsible for delivering client success in implementation and ongoing support for Baton Systems’ Cleared Collateral solutions. Ragu joined Baton following a 10 year tenure at J. P Morgan, now one of the world’s largest clearers, focused on Derivatives Liquidity Management and Collateral Optimisation. At J. P Morgan he developed new teams - sharing knowledge and expertise to create analytical treasury platforms for investments. Working in the Global Clearing Treasury team, Ragu developed an in-depth understanding of the processes required to normalise and optimise CCP data, the daily challenges faced by clearing members and the processes required to effectively manage liquidity in real time. Ragu went on to become a subject matter expert in collateral eligibility and optimisation for clients and CCPs. Prior to joining J. P. Morgan, Ragu worked in the Derivatives Prime Services division at Deutsche Bank and in Derivatives at Bank of America. Ragu holds a BSc in Economics from the University of Surrey. Recent Insights From Ragu: Blog Post: FCMs Can Optimise Collateral Efficiency and Bolster Capacity Blog Post: Collateral Management Workflow: Intelligent, Automated and Real-Time Blog Post: Maximising Margin Efficiency: Analysing the Gross vs Net Margin Difference Blog Post: Choosing the optimal assets for CCPs Meet the rest of the team --- > Interested in finding out what it's like working at Baton? Please find below just some of the activities and events that our amazing team members have participated in over recent months. - Published: 2022-11-01 - Modified: 2025-06-16 - URL: https://batonsystems.com/company/life-at-baton/ - Categories: Classic, Use Cases Life @BatonSystems SIFMA Ops, San Diego - Sept 24 We're excited to attend the SIFMA Ops 2024 event in San Diego, with our team members Ronn Baker and Arjun Jayaram representing Baton Systems. The event has put operations in the spotlight, highlighting how firms are adopting automation, innovation, and technology to streamline processes and drive strategic advantages. Onam Celebration at Chennai Office - Sept 24 We had a wonderful time celebrating Onam at our Chennai office! The day was filled with laughter, team spirit, and festive joy, as we enjoyed beautiful traditional decorations and fun activities. Thanks to Sonia Bathija and Ananth Ramakrishnan for their support in making the celebration special! PostTrade 360° Nordic, Stockholm - Sept 24 We were thrilled to attend the PostTrade 360° Nordic event in Stockholm. Arjun Jayaram and Alex Knight from our team were there, and Arjun also participated in the panel discussion, ‘The Tools Out There to Nail the Settlements. ’ The panel covered important topics like standardisation, moving away from legacy tech, ISO 20022, matching, netting, and more—key elements in shaping trade lifecycles and settlements. FX Market’s e-FX Awards, London - July 24 We are delighted to have participated in this year’s FX Markets e-FX Awards, where the FX PvP settlement orchestration service powered by OSTTRA and Baton Systems was recognised as the Best Settlement Initiative. Our Director of Business Development and Client Success, Ragu Raymond, attended the event and received the award alongside OSTTRA. FIA BOCA, BOCA Raton - Mar 24 We... --- > Ronn Baker joined Baton Systems in March 2022 as Senior Director of North American Sales. - Published: 2022-09-03 - Modified: 2025-06-25 - URL: https://batonsystems.com/ronn-baker/ Ronn Baker Senior Director of North American Sales, Baton Systems Ronn Baker joined Baton Systems in March 2022 as Senior Director of North American Sales. Ronn brings over 15 years of capital markets experience. He joined from Wells Fargo where he was most recently Director of FX Sales and Innovation and Digital Strategy, spearheading the implementation of distributed ledger technologies (DLT), cryptocurrencies and digital assets for the FX trading and Capital Markets division. Prior to this, Ronn spent seven years as Director of FX Sales with responsibility for trading and cross-border payment solutions and services, increasing FX portfolio revenue by 260%. In his previous role in eCommerce Sales, Ronn was responsible for the migration of 325 clients to Wells Fargo’s eCommerce platform over a period of 18 months. During this period he added $7 million to the bank’s annual revenue and oversaw growth of 163% in correspondent banking acquisitions. Prior to joining Well Fargo in 2007, Ronn held a number of consulting roles, where, among other projects, he delivered savings of $6 million for a major network communications organisation and $3 million for a large electronics company. During this time he oversaw and managed a client base of over 75 companies and 11,000 users. Ronn began his career in Sales and Marketing in Latin America, covering 7 different countries across the region and increasing company revenue by $5 million across 2. 5 years. Ronn speaks fluent Spanish and is active within his local Hispanic community. Ronn holds a degree in... --- > Aaron Ayusa is Director of Client Success at Baton Systems, working closely with Baton’s customers to help solve FX-related issues and develop FX solutions - Published: 2022-09-03 - Modified: 2025-06-25 - URL: https://batonsystems.com/aaron-ayusa/ Aaron Ayusa Director of Client Success, Baton Systems Aaron Ayusa is Director of Client Success at Baton Systems, working closely with Baton’s customers to help solve FX-related issues and develop FX solutions. An acknowledged expert in the areas of FX settlement and automation, Aaron joined Baton in 2021 following eleven years at Credit Suisse, having worked in both the Singapore and New York office. He was most recently AVP, Cash Products and Metrics Analysis. In this role, he oversaw various global FX initiatives and process improvements through robotics and technology. Prior to this, Aaron held the roles of Senior Analyst for Prime Swaps and Senior Analyst for FX Operations. Aaron began his career as a Corporate Finance Analyst. He holds Bachelor’s degrees in Applied Economics and Commerce from De La Salle University, Manila. Recent Insights From Aaron: White Paper Optimising Intraday Liquidity Risk Management Blog Post: Adapting to the Updated FX Global Code: Strategies for Reducing FX Settlement Risk Blog Post: How Banks Can Better Manage and Safely Reduce Intraday Liquidity Buffers Blog Post: Intraday Liquidity Optimization: A Treasury Manager’s Guide to Tooling Blog Post: Transform Your Firm’s Ability to Mitigate Payment Risk With On-Demand Rules Meet the rest of the team --- > Ananth Ramakrishnan is Baton Systems’ Head of Engineering, with responsibility for the design & delivery of Baton’s platform and services. - Published: 2022-09-03 - Modified: 2025-06-02 - URL: https://batonsystems.com/ananth-ramakrishnan/ Ananth Ramakrishnan Head of Engineering, Baton Systems Ananth Ramakrishnan is Baton Systems’ Head of Engineering, with responsibility for the design and delivery of Baton’s platform and associated services. Ananth joined Baton in 2016, bringing almost 20 years’ experience in designing and developing software products, ranging from back-end services, APIs and web front-ends to desktop applications. His experience has spanned a variety of industry sectors, including Finance, Manufacturing and Sports and he is accustomed to building and leading teams and mentoring them through product releases. Ananth holds a BSc in Mathematics from the University of Madras and a Master’s degree in Computational Linguistics from Anna University, Chennai. He is the author of several publications pertaining to research conducted during his time in Anna University. Recent Insights From Ananth: Blog Post: Idempotency: Scalable Messaging for Post-Trade System Meet the rest of the team --- > Meet Sonia Bathija, Baton Systems' Head of Operations, India. With 25 years of global experience in product development and risk assessment, she leads the company's Indian operations. - Published: 2022-09-03 - Modified: 2025-06-01 - URL: https://batonsystems.com/sonia-bathija/ Sonia Bathija Director & Head of Operations, India at Baton Systems Sonia Bathija is Director & Head of Operations, India at Baton Systems, responsible for initiating and leading the company’s operations in India. With almost 25 years of global client experience in product development, Sonia brings to her role a unique combination of leadership skills, risk assessment capabilities and incisive decision making. Prior to joining Baton as Director of Program Management in 2017, she worked at iSOFT, IBA Health and CSC for a combined 13 years. There she led large teams overseeing the strategic release of healthcare products with strict adherence to international guidelines across the UK, Ireland, Scotland, Wales, Australia and New Zealand. Sonia began her career at NIIT Technologies in their Technology Innovation Centre, where she helped develop RAD tools that optimised time to deliver turnkey projects and increased profitability across India, Singapore, the USA and Japan. The recipient of Awards of Excellence from both NIIT and CSC for her contribution to business in 2021 Sonia was also honoured with the prestigious Indian Achievers’ Award. Sonia holds a Bachelor’s degree in Computer Science from the Ethiraj College for Women. Baton Systems: talent acquisition and retention in 2023 In the article, Sonia Bathija shares her insights into the challenges of attracting and retaining top talent, and how Baton Systems is addressing them through efficient recruiting processes, employee mentoring, and diversity and inclusion initiatives. Check it out and learn how Baton Systems is paving the way for success in the... --- > Meet Daniella Huggins, Baton Systems' Marketing Director. She brings deep FinTech and financial services expertise, building B2B brands and articulating complex technical value. - Published: 2022-09-03 - Modified: 2025-06-01 - URL: https://batonsystems.com/daniella-huggins/ Daniella Huggins Director of Marketing, Baton Systems Daniella Huggins joined Baton Systems in Spring 2021, bringing a wealth of expertise in marketing and communications for fintech and financial services organisations. She has held senior positions at Velocimetrics and FIX Trading Community, establishing the marketing and PR functions, developing marketing and communications campaigns and earning a reputation as a builder of B2B brands in the fintech sector. Prior to her tenure at these firms, Daniella worked at J. P. Morgan Chase. Daniella is an accomplished communicator, accustomed to articulating the value of technical solutions to technical and non-technical audiences alike. Daniella has also gained experience on the agency side, and is passionate about enabling organisations to establish and increase their presence, so they can consistently build industry profile and awareness of why what they do matters. Her other specialisms include media relations, thought-leadership content creation, event management and social media marketing. Daniella holds a BSc in Management and Administrative Studies from Aston University. Meet the rest of the team --- > With 20+ years in tech, Mohammad Abidi leads Baton Systems' platform design, leveraging expertise in analytics, data pipelines, & innovation. - Published: 2022-09-03 - Modified: 2025-06-02 - URL: https://batonsystems.com/mohammad-abidi/ Mohammad Abidi Vice President of Engineering, Baton Systems Mohammad Abidi is responsible for leading the design, architecture, and development of the Baton Systems platform. Mohammad has over 20 years of experience as a technologist with a proven track record of innovation and success. He joined Baton in 2016 from Yahoo, where he was Senior Technical Program Manager, working on the Mobile Search Innovation team on scaling the search infrastructure and user engagement experimentation based on user profiles. He worked on predictive analytics based on user signals such as geo-locations on extremely large data sets to support content personalisation, ad targeting and insights. Prior to this, he was Director of Engineering at CompassLabs where he managed the design, architecture and development of a data pipeline analysing public data from Twitter and Facebook at scale for conversion tracking, analytics and data science. In this role, he was recognised with an MVP Award for outstanding customer satisfaction and overall team leadership. Before joining CompassLabs in 2010, Mohammad led the e-commerce efforts at AIAG, an automotive standards organisation. During his tenure at AIAG, he was an active participant in standards organisations such as WS-I, OASIS, UN/CEFACT and OAGI, helping to define electronic exchange messages for the automotive industry. He has also held engineering positions at enterprise software companies such as Oracle, Sybase and Peoplesoft. Mohammad holds a BS in Electrical Engineering from the University of Texas at Austin and lives in San Ramon, California. Recent Insights From Mohammad: Article: Upgrading legacy post-trade infrastructure: 3... --- > Tucker Dona, Head of Business Development at Baton Systems, leverages decades of experience in derivatives, clearing, and client success. - Published: 2022-09-03 - Modified: 2025-06-02 - URL: https://batonsystems.com/tucker-dona/ Tucker Dona Head of Business Development and Client Success, Baton Systems Tucker is responsible for driving client success and business development for Baton Systems globally. Tucker brings a wealth of experience in derivatives and relationship management to his role at Baton. Prior to joining the company in 2020, he spent 18 years at J. P. Morgan where the early part of his career was in Liquidity and Credit Default Swaps. Having run part of the bank’s Interest Rate operations during the Global Financial Crisis, Tucker moved to the Clearing side of the business where he spent over a decade overseeing client relationship functions and acting as the main contact in the Americas for a number of CCPs. In this position, Tucker developed a deep understanding of the business working extensively with teams that spanned the entire Clearing operation, including the sales, operations, treasury and risk functions. During this time, Tucker was instrumental in scaling the firm’s Clearing business to support its growth in the light of new regulations, which included the mandatory clearing of a significant number of OTC derivative products. Tucker holds a BSBA in Finance from the University of Delaware and is an avid participant in endurance sports having completed multiple Ironmans, several marathons and longer trail running races. Recent Insights From Tucker: Article: BGC’s Howard Lutnick takes on CME with interest rate futures debut Article: Real-time Visibility: Why it is Key for Managing Collateral and Payments Now Blog Post: How Baton Systems is Helping Firms Take the... --- > An experienced builder of global businesses, Alex joined Baton in 2019 following 18 years at Citi in London, Sydney and Singapore - Published: 2022-08-16 - Modified: 2025-06-17 - URL: https://batonsystems.com/alex-knight/ Alex Knight Global Head of Sales and EMEA, Baton Systems Alex has more than 25 years of experience in Foreign Exchange, Clearing, Investment Banking, Electronic Trading, Fixed Income and Derivatives. An experienced builder of global businesses, Alex joined Baton in 2019 following 18 years at Citi in London, Sydney and Singapore. Having been instrumental in establishing the bank’s FX electronic trading franchise in the early 2000s, Alex became a founding senior member of Citi’s FX Margin Trading Business, for which he became the Global Head in 2012. During his tenure at Citi, Alex also set-up and built Citi’s APAC FX Prime Brokerage business to become a regional market leader and served as a Board Director of CitiGroup Global Markets Singapore until 2015. Returning to London, he continued to play a key role in the development of Citi’s global FX Prime Brokerage arm – which had by this time become the largest such business in the world – most recently holding the position of Global Head of Sales and Client Coverage. Prior to joining Citi, Alex began his career selling investment management systems to real money and hedge fund clients. Alex holds a BSc from Imperial College, London and an MBA from Nottingham University. Recent Insights From Alex: Blog Post: Cut Integration Timelines: Baton’s Low-code Data Integration Tool Blog Post: Managing Intraday Liquidity Risk: Meeting the ECB's Principles Article: It’s time reconciliations get off the spreadsheets Article: Murex, Baton: Basel III banking reforms expose “emerging chinks” in global finance armor Webinar:... --- > Arjun Jayaram, CEO of Baton Systems, drives real-time payments & settlement innovations, transforming post-trade processes for global markets - Published: 2022-08-16 - Modified: 2025-06-29 - URL: https://batonsystems.com/arjun-jayaram/ Arjun Jayaram CEO and Founder, Baton Systems Arjun Jayaram is Founder and CEO of Baton Systems. Arjun has deep domain expertise in global payments and settlements of cash and securities for retail and wholesale markets. He is a member of several working committees on payments and standards, including the Federal Reserve’s Faster Payments Task Force, the Federal Reserve’s Secure Payments Task Force and the ISDA Common Domain Model (CDM) Design Working Group. Arjun founded Baton Systems with the vision to transform the speed of settlements and bring real-time visibility and control to post-trade processes in capital markets. Baton has created the network and platform now used by some of the largest global banks – as of November 2022 the CORE Baton platform has handled more than 85 million transactions and facilitated the settlement of more than $10. 3 trillion of cash and securities. Over the years, Arjun has also developed a deep knowledge of settlement finality across multiple jurisdictions. Prior to Founding Baton Systems, Arjun spent over a decade holding senior leadership positions at several companies in the early stages of their corporate development including Dwolla, a retail payments company, where he served as Vice-President of Technology and he also managed anti-spam at Twitter. Previously, Arjun co-founded Compass Labs, a social media machine learning based ad tech company, which he later sold to Yahoo. Arjun holds an MBA in Marketing and Strategic Management from California State University and a BTech from Calicut University. He currently resides in Fremont, California. Recent... --- > At Baton, David is focused on enabling the firm to effectively scale as the number of clients expands with market interest in deploying DLT - Published: 2022-08-09 - Modified: 2025-06-02 - URL: https://batonsystems.com/coo-david-ornstein/ David Ornstein Chief Operating Officer, Baton Systems David Ornstein is Chief Operating Officer at Baton Systems. He was previously Chief Operating Officer of Global Markets at Barclays Investment Bank, where he guided the business through a period of rapid growth and strategic change. Before Barclays, he held roles with Deutsche Bank, where he was COO of U. S. Credit Markets, as well as at Bankers Trust. Most recently, he has been working in an advisory capacity for several growth companies, providing counsel to CEOs and founders actively scaling their businesses. At Baton, David is focused on enabling the firm to effectively scale as the number of clients expands with market interest in deploying DLT solutions that deliver tangible benefit in post-trade. David holds a BS from the US Naval Academy at Annapolis, Maryland, and an MBA from the Wharton School at the University of Pennsylvania. Recent articles, interview and press release from David: Article: 7 factors to consider when moving a FinTech from start up to scale up Article: “The technology in the back office was 30 years old” Interview: Baton Systems Redefining FX post-trade processing Press release: Fast-growing fintech Baton Systems strengthens management team appointing industry leader David Ornstein as first COO Meet the rest of the teamJTNDaWZyYW1lJTIwc3JjJTNEJTIyaHR0cHMlM0ElMkYlMkZwbGF5ZXIudmltZW8uY29tJTJGdmlkZW8lMkY3MDQwMzQyOTAlM0ZoJTNEZTg4YWM5YTU0OSUyMiUyMHdpZHRoJTNEJTIyNjQwJTIyJTIwaGVpZ2h0JTNEJTIyMzYwJTIyJTIwZnJhbWVib3JkZXIlM0QlMjIwJTIyJTIwYWxsb3clM0QlMjJhdXRvcGxheSUzQiUyMGZ1bGxzY3JlZW4lM0IlMjBwaWN0dXJlLWluLXBpY3R1cmUlMjIlMjBhbGxvd2Z1bGxzY3JlZW4lM0UlM0MlMkZpZnJhbWUlM0U= Baton's COO, David Ornstein, discusses how to scale a growing FinTech Learn more about the process of moving a fintech from a start-up to a scale-up including essential product, engineering, and operational considerations. --- > Take Control with Baton's DLT powered Core-FX solution that enables real-time, riskless settlement with no pre-funding - Published: 2021-12-09 - Modified: 2022-03-17 - URL: https://batonsystems.com/baton-core-fx-now-powering-real-time-riskless-settlements-with-no-pre-funding/ Baton Core-FX™: Now Powering the First Interbank Riskless Settlements Outside of CLSTake Control: Real-time, Riskless Settlement with No Pre-FundingLatest News & Insights:13th December 2021PRESS RELEASEBaton Systems’ Core-FX™ technology powers the world’s first interbank riskless settlement outside of CLSLEARN MORE13th December 2021PRESS RELEASEWells Fargo and HSBC establish bilateral agreement to settle FX transactions through a blockchain-based solutionLEARN MORE18th October 2021VIDEOBaton Core-FX: Transforming FX Settlements“This is going to completely revolutionise the world of FX settlements” says Baton Systems' Alex Knight as he introduces Baton's Core-FX solution that allows FX businesses to safely settle, with all of the benefits of PvP, multiple times a day with automated netting and payment strategies. LEARN MORELearn more about Baton's Core-FX™ solutionLEARN MORE17th November 2021ARTICLETackling rising FX settlement risk with DLTLEARN MORE10th November 2021ARTICLEThe post-trade revolution: transforming the ability to manage liquidity and riskLEARN MORE17th October 2021WHITE PAPERStress Fatigue: Addressing the Urgent Threat of Settlement Risk in the Global Financial SystemLEARN MORE29th September 2021ARTICLEThe potential for Distributed Ledger Technology to reduce FX Settlement RiskLEARN MORE --- > We are always looking for a vast array of talent to join our team. Find out how to apply to or just view our current job openings. - Published: 2021-10-16 - Modified: 2021-10-26 - URL: https://batonsystems.com/job-openings/ We currently have no job openings --- > Discover how pioneering banks are now using Baton’s DLT to address liquidity and funding challenges and gain real-time visibility - Published: 2021-10-15 - Modified: 2022-03-17 - URL: https://batonsystems.com/october-introducing-baton-core/ - Categories: PAY21 PAY21 - Transforming FX Settlement, Payments & Liquidity Management This month we explored how innovative tier 1 banks are now using Baton’s distributed ledger technology (DLT) to address liquidity and funding challenges, gaining real-time visibility of settlement exposure and achieving collaborative, fast and secure post-trade processing - all the way from trade matching through to settlement. 11 Minutes Company Updates with Arjun Jayaram & Jerome Kemp 18 Minutes Interview with Bill Coen, Senior Advisor 6 Minutes Baton - Core-Liquidity™ with Alex Knight 6 Minutes Baton - Core-Payments™ with Alex Knight 8 Minutes Baton - Core-FX™ with Alex Knight 3 Minutes Looking to 2022 with Alex Knight & Jerome Kemp Click the link below to download the full Industry Article:Download --- > Explaining how firms can overcome challenges in FX settlement and liquidity. See exclusive demos, delve into detailed use cases. - Published: 2021-10-05 - Modified: 2022-01-31 - URL: https://batonsystems.com/pay21-march-platform-overview/ Welcome to PAY21 - Transforming FX Settlement & Cash Management In March we explored how firms can overcome challenges in FX settlement and liquidity. We joined our host Alex Knight, Head of Global Sales for exclusive demos, delved into detailed use cases and learnt from the industry leaders how the Baton platform, built on distributed ledger technology (DLT), is transforming the movement of assets across the world’s largest financial markets. 9 Minutes Baton Systems Company Update - Arjun Jayaram, CEO & Founder 6 Minutes Discover The Platform - Mohammad Abidi, Vice President of Engineering 6 Minutes PvP Liquidity Demo - Tucker Dona, Head of Business Development and Client Success 8 Minutes Meet the Engineers - Sonia Bathija, Head of Operations 17 Minutes Market Insight - Jerome Kemp, Senior Advisor 6 Minutes Audience Q&A - Alex Knight, Mohammad Abidi & Tucker Dona Click the link below to download the full Industry Article:Download --- > Sharing our perspective on the three key themes for settlements and payments: risk management, liquidity management, and funding. - Published: 2021-10-05 - Modified: 2022-01-31 - URL: https://batonsystems.com/pay21-may-collateral-management-client-view/ - Categories: PAY21 Welcome to PAY21 - Transforming FX Settlement Cash & Collateral ManagementThis month we shared our perspective on the three key themes for settlements and payments: risk management, liquidity management, and funding. Join our host Alex Knight, Head of Global Sales for exclusive demos, delve into detailed use cases and learn from the industry leaders how the Baton platform, built on distributed ledger technology (DLT), is transforming the movement of assets across the world’s largest financial markets. 14 Minutes Market Insights - J. Christopher Giancarlo, Senior Advisor, Baton Systems 17 Minutes FX Living Dangerously – Alex Knight, Head of EMEA, Baton Systems & Colin Lambert, Publisher of The Full FX 11 Minutes Measuring Client Success & ROI - Arjun Jayaram, CEO & Founder & Alex Knight, Head of EMEA, Baton Systems 11 Minutes Collateral Management - Mariam Rafi, MD, Global head of Financial Resource Management, Futures, Clearing and FXPB, Citi 6 Minutes Collateral Demo - Tucker Dona, Head of Business Development, Baton Systems 7 Minutes Audience Q&A - with Alex Knight, Arjun Jayaram & Tucker Dona Click the link below to download the full Industry Article:Download --- - Published: 2021-10-05 - Modified: 2022-10-26 - URL: https://batonsystems.com/pay21/stream/ - Categories: PAY21 Welcome to PAY21 - Transforming FX Settlement, Payments & Liquidity Management In this month's PAY21 we will be exploring how innovative tier 1 banks are now using Baton’s distributed ledger technology (DLT) to address liquidity and funding challenges, gain real-time visibility of settlement exposure and achieve collaborative, fast and secure post-trade processing - all the way from trade matching through to settlement. 4. 00pm BST / 11. 00am EDT PAY21 Intro with Alex Knight 4. 15pm BST / 11. 15am EDT Company Updates with Arjun Jayaram & Jerome Kemp 4. 20pm BST / 11. 20am EDT Interview with Bill Coen, Senior Advisor 4. 50pm BST / 11. 50am EDT Baton - Core-Liquidity with Alex Knight 5. 00pm BST / 12. 00pm EDT Baton - Core-Payments with Alex Knight 5. 10pm BST / 12. 10pm EDT Baton - Core-FX with Alex Knight 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Download our Industry Article:'STRESS FATIGUE: Addressing the Urgent Threat of Settlement Risk in the Global Financial System' Δdocument. getElementById( "ak_js_1" ). setAttribute( "value", ( new Date ). getTime ); This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. --- > Achieve collateral optimization with Baton. Optimize allocations, automate processes, reduce risk and boost efficiency with Core-Collateral®. - Published: 2021-09-30 - Modified: 2025-06-23 - URL: https://batonsystems.com/solutions/collateral-optimization/ - Categories: Use Cases Collateral Optimization and Intelligent Automation Discover Core-Collateral®, Baton's collateral management system, designed to help firms maximize collateral efficiency in financial markets request a demo "With firms actively preparing for US Treasury clearing, we view the FICC link to the Baton network of clearing participants as an important enabler of collateral efficiencies. " Brian Steele, President of Clearing and Securities Services, DTCC “This will bring further efficiency in our collateral management process and will provide greater real-time visibility of our margin and collateral holdings. ” Anthony Fraser, Head of Global Clearing Operations and Cost & Commission Services, J. P. Morgan "With Baton we have been able to accelerate our innovation agenda and drive efficiencies through our entire clearing process. Our Collateral Management team can now access information in real-time and dynamically manage our inventory of eligible collateral across the network of CCP's we interact with the most, which enables us to better serve our clients. " Mariam Rafi, Global Head of Financial Resource Management and North American Head of Clearing and FXPB, Citi “With Baton completing a connection to the ICE Collateral API, our clearing members can further optimize their collateral and margin management processes. ” Chris Edmonds, Global Head of Clearing and Risk at ICE “We’re delighted to help clients find increased efficiencies through improved collateral mobilization in the clearing process. ” Graham Gooden, EMEA Head of Triparty Collateral Management, J. P. Morgan “We are pleased to have connected to Baton, working together to help clearing members increase the speed... --- > If you would like to get in touch with us please contact us directly through email info@batonsystems.com we would love to hear from you - Published: 2021-09-16 - Modified: 2025-07-02 - URL: https://batonsystems.com/contact/ 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 London 2nd Floor, 30 Churchill Place, London, E14 5RE San Francisco 39650, Liberty St Suite 360, Fremont CA, 94538 Chennai Elnet Software City, TS 140, Block 2 & 9, Module 41, 4th Floor, Rajiv Gandhi Salai, Taramani, Chennai TN, 600113 Contact UsIf you would like to get in touch with us please fill out the form or contact us directly through the channels below. info@batonsystems. 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This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. --- > Learn how Baton is driving innovation in the movement of assets & settlements across financial markets - redefining post-trade processing. - Published: 2021-09-16 - Modified: 2022-04-26 - URL: https://batonsystems.com/resources/ Baton Resourcessubscribe to our blog postsBlog PostsREAD MOREWhite Papers & Industry ArticlesPodcast Series: Transforming MarketsJTNDaWZyYW1lJTIwd2lkdGglM0QlMjIxMDAlMjUlMjIlMjBoZWlnaHQlM0QlMjI0NTAlMjIlMjBzY3JvbGxpbmclM0QlMjJubyUyMiUyMGZyYW1lYm9yZGVyJTNEJTIybm8lMjIlMjBhbGxvdyUzRCUyMmF1dG9wbGF5JTIyJTIwc3JjJTNEJTIyaHR0cHMlM0ElMkYlMkZ3LnNvdW5kY2xvdWQuY29tJTJGcGxheWVyJTJGJTNGdXJsJTNEaHR0cHMlMjUzQSUyRiUyRmFwaS5zb3VuZGNsb3VkLmNvbSUyRnBsYXlsaXN0cyUyRjEzNDg1NDEzMjYlMjZjb2xvciUzRCUyNTIzZmY1NTAwJTI2YXV0b19wbGF5JTNEZmFsc2UlMjZoaWRlX3JlbGF0ZWQlM0RmYWxzZSUyNnNob3dfY29tbWVudHMlM0R0cnVlJTI2c2hvd191c2VyJTNEdHJ1ZSUyNnNob3dfcmVwb3N0cyUzRGZhbHNlJTI2c2hvd190ZWFzZXIlM0R0cnVlJTIyJTNFJTNDJTJGaWZyYW1lJTNFFact Sheets & Use CasesStay up-to-date with our latest news, events and insights. NEWSSign-up to our 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This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. --- > Stay up-to-date with the latest news, events and insights into the transformation taking place right now across the post-trade landscape. - Published: 2021-09-16 - Modified: 2025-06-02 - URL: https://batonsystems.com/insights/press-releases/ Baton Newssubscribe to our newsletterPress ReleasesREAD MOREBaton News, Blogs & UpdatesFind out more from our fact sheets, white papers, industry articles and use cases. RESOURCESSign-up to our 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This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. --- > Explore how post-trade solutions are shaping the future of banking for the world's largest financial institutions. - Published: 2021-09-16 - Modified: 2025-06-17 - URL: https://batonsystems.com/company/about/ The world's largest financial institutions are building the bank of 2030 today - they're trusting Baton’s post-trade solutions to help get them there. History and Roadmap2025 OSTTRA, Baton and Partior Expand FX Settlement Ecosystem with Tokenised Commercial Bank Funds and 24/7 Access Fnality Joins OSTTRA and Baton Systems’ FX PvP Network to Expand Settlement Choice and Bolster Liquidity Efficiencies Baton Connects with DTCC’s FICC and NSCC Clearing Houses Baton Systems Expands Core-Collateral® Network with Euronext Clearing Baton Systems Accelerates Bank Data Integration Timelines by Almost 90% Baton Systems to Transform Collateral Management Decision-Making with New Eligibility Service 2024 Baton reports record demand for real-time collateral management amid volatile year for markets Baton Systems to transform bank treasury capabilities with real-time intraday liquidity management and analysis tools Baton Systems adds JSCC to its growing CCP network Baton Systems recognised by Harrington Starr as one of The Most Influential Financial Technologist Firms of 2024 OSTTRA and Baton Systems partner to launch FX PvP service, mitigating settlement risk in FX markets 2023 Baton Systems collaborates with J. P. Morgan to Expand CCP Coverage for Collateral Management Optimisation Solution Baton Systems Launches Automated Settlement Orchestration Platform Baton Systems Triumphs Again, Winning "Best FX Settlement Innovation" at Euromoney Foreign Exchange Awards 2023 Baton Systems wins “Best FX Settlement and Risk Mitigation Solution” at the FX Markets Asia FX Awards 2023 Baton Systems recognised by Harrington Starr as one of The Most Influential Fintech Firms 2023 BIS CPMI report identifies Baton Systems’ Core-FX as the only... --- > Learn about the career opportunities available at Baton Systems and hear directly from our team members about why they enjoy working at Baton - Published: 2021-09-16 - Modified: 2025-06-01 - URL: https://batonsystems.com/company/careers-at-baton-systems/ Careers At BatonOPEN POSITIONSWelcome to BatonOpen PositionsThere are many highlights of working at Baton Systems, including: Based on experience & training Genuinely collaborative environment You choose where you work from Be challenged and watch yourself grow Open Positions: We currently have no job openings Can’t find the role you’re looking for? Get in touch with a cover letter and we'll see where you could fit! GET IN TOUCH"The people at Baton are friendly, enthusiastic and innovative - these are some of the best people I’ve worked with. "life @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Our LocationsLondon OfficeSan Francisco OfficeNew York OfficeChennai Office Baton Systems: talent acquisition and retention in 2023 Sonia Bathija shares her insights into Baton’s recruitment process, the career progression of previous graduates and Baton’s focus on employee mentoring. Read the article to learn more. Click here to read the articleThe article was first published in Harrington Starr’s The Financial Technologist magazine on March 27, 2023. Sign-up to our Newsletter Δdocument. getElementById( "ak_js_4" ). setAttribute( "value", ( new Date ). getTime ); --- > Optimise settlements and increase payment control with Baton’s real-time solution. Boost resilience and reduce risks. Discover more today! - Published: 2021-09-16 - Modified: 2025-07-04 - URL: https://batonsystems.com/solutions/real-time-payment-control/ - Categories: Use Cases Payment Control Optimised Core-Payments®: Real-time, enterprise-wide monitoring and payment control over settlement flows Proven and being used in production by a tier 1 bankREQUEST A DEMO Outgoing Payment Control Banks are under increased pressure to increase payment control so they can minimise risk, optimise cash returns and make smarter funding decisions. However siloed, fragmented data, and manual post-trade processes generate challenges. Many struggle to aggregate and analyse the relevant, real-time data needed, and access the capabilities required, to effectively payment control outgoing payments. This leads to settlements driven by queue order, not safety or optimisation, increasing payment, liquidity, and settlement risks. The Core-Payments® suite of modules is a scalable solution designed to help banks manage and payment control outgoing payments, settlements, and intraday liquidity risks while optimising performance. Leveraging real-time enterprise-wide payments intelligence and detailed historical insights to power smart, automated and customisable workflows, alerts, and payment control banks can efficiently execute safer automated, conditional and optimised settlements. The result: Enterprise-wide payment and settlement oversight and control, enhanced operational resilience, increased agility, the ability to proactively mitigate risk and optimise funding strategies. 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 our Core-Payments information sheet Payment control optimisation and settlement flows with real-time insight Real-time monitoring of funding balances, available liquidity, inbound payments and outstanding obligations for effective data-driven decision making Automated, real-time payment matching software (reconciling statements vs ledgers) for increased position accuracy Orchestrate automated, optimised and conditional settlements powered by smart payment sequencing Drill down to trace granular, time-stamped historical transaction data for quicker identification of... --- > Streamline post-trade operations and settlements with Baton CORE®'s real-time, interoperable post trade processing solutions. - Published: 2021-09-16 - Modified: 2025-06-11 - URL: https://batonsystems.com/post-trade-processing-solutions/ THE BATON POST TRADE PROCESSING PLATFORM Next Generation Technology Baton CORE's post trade processing solutions are based on distributed ledger technology (DLT) and designed to elevate a firm’s visibility and control over their assets. Implement the tools and capabilities your institution needs to improve the speed and reliability of post trade processes and benefit from a post trade processing platform designed to enhance efficiency and accuracy in trade settlements. Fully ConnectedFriction-FreeFlexible, Transparent and 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 Baton CORE® in Action - Book a Demo with our team Today! BOOK A DEMOIntroducing Baton CORE®'s post trade processing solutions for transforming asset movement and settlements across financial markets. JTNDaWZyYW1lJTIwc3JjJTNEJTIyaHR0cHMlM0ElMkYlMkZwbGF5ZXIudmltZW8uY29tJTJGdmlkZW8lMkYxMDA3NTU1MTIwJTNGYXV0b3BsYXklM0QxJTI2bG9vcCUzRDElMjZiYWNrZ3JvdW5kJTNEMSUyNmF1dG9wYXVzZSUzRDAlMjIlMjB3aWR0aCUzRCUyMjYwMCUyMiUyMGhlaWdodCUzRCUyMjQwMCUyMiUyMGZyYW1lYm9yZGVyJTNEJTIyMCUyMiUyMGFsbG93JTNEJTIyYXV0b3BsYXklM0IlMjBmdWxsc2NyZWVuJTIyJTIwYWxsb3dmdWxsc2NyZWVuJTNFJTNDJTJGaWZyYW1lJTNF Learn more about Baton CORE The Integration ManagerThe Balance ManagerThe Eligibility Service Discover Baton's Post Trade Processing Solutions Core-FX®Core-Liquidity®Core-Payments®Core-Collateral®“Lorem ipsum client testimonial elit lorem nisi, mi. Velit varius libero non, est semper. “Baton CORE at a GlanceVIEW MORE Contact our Experts To learn more about our post-trade solutions, please provide your details and one of our experts will contact you shortlyJTNDc2NyaXB0JTIwY2hhcnNldCUzRCUyMnV0Zi04JTIyJTIwdHlwZSUzRCUyMnRleHQlMkZqYXZhc2NyaXB0JTIyJTIwc3JjJTNEJTIyJTJGJTJGanMuaHNmb3Jtcy5uZXQlMkZmb3JtcyUyRmVtYmVkJTJGdjIuanMlMjIlM0UlM0MlMkZzY3JpcHQlM0UlMEElM0NzY3JpcHQlM0UlMEElMjAlMjBoYnNwdC5mb3Jtcy5jcmVhdGUlMjglN0IlMEElMjAlMjAlMjAlMjByZWdpb24lM0ElMjAlMjJuYTElMjIlMkMlMEElMjAlMjAlMjAlMjBwb3J0YWxJZCUzQSUyMCUyMjIwNjcwODMzJTIyJTJDJTBBJTIwJTIwJTIwJTIwZm9ybUlkJTNBJTIwJTIyYzAwMDFjZTktMzRiZC00NDg3LWFlZDgtODFjNzQ3YWE2YWZiJTIyJTBBJTIwJTIwJTdEJTI5JTNCJTBBJTNDJTJGc2NyaXB0JTNF --- > Discover Baton's post-trade solutions. Enhance speed, visibility, control, and networks in settlements, liquidity, and risk management. - Published: 2021-09-16 - Modified: 2025-06-25 - URL: https://batonsystems.com/ The Future of Post-Trade Solutions & Automation "With real-time, PvP settlement across both fiat and tokenised assets, this service gives institutions a smarter way to manage liquidity, reduce risk, and unlocks new opportunities to optimise capital across global markets. ” Humphrey Valenbreder, CEO, Partior "Joining the OSTTRA and Baton PvP network marks a significant milestone in our mission to make institutional-grade digital settlement a practical reality. ” Michelle Neal, CEO, Fnality "With firms actively preparing for US Treasury clearing, we view the FICC link to the Baton network of clearing participants as an important enabler of collateral efficiencies. " Brian Steele, President of Clearing and Securities Services, DTCC “This will bring further efficiency in our collateral management process and will provide greater real-time visibility of our margin and collateral holdings. ” Anthony Fraser, Head of Global Clearing Operations and Cost & Commission Services, J. P. Morgan "With Baton we have been able to accelerate our innovation agenda and drive efficiencies through our entire clearing process" Mariam Rafi, Global Head of Financial Resource Management and North American Head of Clearing and FXPB, Citi “Since 2018, HSBC FX Everywhere has used Baton’s Core FX technology to settle 16 million FX trades across 13 different currencies totalling US$8. 1 trillion. ” Mark Williamson, Global Head of FX & Commodities Partnerships & Propositions, HSBC “Working with Baton, we will be delivering a solution at the leading edge of innovation. ” Victor O’Laughlen, Digital Business Leader at BNY Mellon POST-TRADE. REDEFINED Experience Speed, Visibility, Control... --- > Your privacy is important to us. We believe in protecting your information in the same way we want ours protected. Read our privacy policy. - Published: 2021-03-03 - Modified: 2024-12-25 - URL: https://batonsystems.com/privacy-policy-terms/ PRIVACY POLICY AND TERMS OF USE   PRIVACY POLICY   Last Updated: November 2022   We Respect Your Privacy In the course of serving you as an individual or as someone associated with a corporation or institution, Baton Systems, Inc. , (“we”, “our”, “us” or “Baton Systems, Inc. ”) may collect, hold, use and disclose (“process”) information about individuals, which may constitute personal data. This Privacy Policy describes how we may process your personal data when you visit our website at www. batonsystems. com (the “Website”) or use any sites affiliated with Services we provide. Other or additional privacy policies or statements may apply when you use or access our other websites or other sections of or pages on this Website, or when you purchase, subscribe or participate in our products or services. Please read this Privacy Policy carefully to understand how we process your personal data. If you do not agree with the practices and procedures described in this Privacy Policy, please discontinue using the Website. Information We Collect Voluntarily Provided Personal Information We may collect personal identification information from Users in a variety of ways, including, but not limited to, when Users visit our public Website, use the Baton Platform, subscribe to blogs (or other Website content), fill out an online contact form, or in connection with other activities, services, features or resources we make available. We will collect personal identification information from Users only if they voluntarily provide such information to us. Users can always refuse to... --- --- --- ## Posts > How FCMs can boost collateral efficiency, manage margin call spikes, and optimise liquidity in volatile markets. - Published: 2025-06-19 - Modified: 2025-06-23 - URL: https://batonsystems.com/insights/blog-posts/4-ways-fcms-can-optimise-collateral-efficiency-and-bolster-capacity/ - Categories: Blog Posts, Core-Collateral - Tags: Automation, capital efficiency, clearing members, Collateral Optimisation, FCMs, liquidity risk, Margin Calls, Market Volatility, operational efficiency, post-trade technology ｜BLOG POST｜COLLATERAL MANAGEMENT 4 Ways FCMs Can Optimise Collateral Efficiency and Bolster Capacity Market volatility and its margin call impact are forcing futures commission merchants (FCMs) to scale capacity and optimise collateral efficiency. A recent PostTrade360 article, for instance, highlighted that several FCMs are looking to leverage technology to expand capacity to prepare for potential volume surges driven by heightened market fluctuations. Another interesting point the journalist raises is that while the number of FCMs managing customer funds in futures accounts has declined from 53 to 49 over the past five years, and future U. S. capital requirements remain uncertain, recent new entrants into the market hint at the potential emergence of a more competitive landscape. Adding further pressures to an already overflowing plate. Maintaining resilience and profitability requires FCMs to prioritise operational efficiency, optimise balance sheet performance, and scale capacity in such a dynamic and demanding environment. During the 10 years I spent as an Optimisation Liquidity Manager for a major FCM, followed by my experience at Baton working with some of the world’s largest clearing firms, I’ve come to realise just how significant these challenges can be. And importantly, the critical role technology can play in overcoming them. I’ve written this post to provide FCMs, who potentially lack the capitalisation of larger players, with five practical steps for effectively tackling these priorities. The Impact of Market Volatility on Clearing Members Before I go through these steps, it's important to recognise the enormous strain market volatility places on clearing... --- > Announcement: OSTTRA, Baton and Partior Expand FX Settlement Ecosystem with Tokenised Commercial Bank Funds and 24/7 Access - Published: 2025-06-17 - Modified: 2025-06-17 - URL: https://batonsystems.com/insights/press-releases/osttra-baton-and-partior-expand-fx-settlement-ecosystem-with-tokenised-commercial-bank-funds-and-24-7-access/ - Categories: FX Settlement, News, Press Releases - Tags: Digital assets, Digital settlement, Distributed Ledger Technology, DLT, FX settlement, Liquidity Efficiencies, Liquidity Management, PvP Settlement, settlement risk, Settlement venues, Tokenised settlement ｜PRESS RELEASE｜FX SETTLEMENT OSTTRA, Baton and Partior Expand FX Settlement Ecosystem with Tokenised Commercial Bank Funds and 24/7 Access OSTTRA’s FX PvP settlement orchestration service grows as Partior integrates with Baton’s institutional-grade distributed ledger technology (DLT), providing network participants opportunities to use tokenised commercial bank deposits for atomic PvP settlement and liquidity optimisation. London, 17th June 2025 - OSTTRA and Baton Systems today announced that Partior has connected to their on-demand FX payment-versus-payment (PvP) settlement service. This integration expands participants’ options for settling FX transactions with PvP protection to include using tokenised commercial bank facilities. This expanded choice will enable financial institutions to further optimise liquidity management and improve capital efficiency as the adoption of tokenised funds continues to scale. The collaboration with Partior further extends the network’s capabilities, delivering access to a live ecosystem with major institutional banks offering settlement in a growing range of currencies, including USD, EUR and SGD tokenised commercial bank money. It also allows institutions to execute and manage post-trade FX processes and settle tokenised commercial bank funds on demand - 24 hours a day, 7 days a week. With Partior joining the network, participants can continue to benefit from the existing automated matching, netting and settlement orchestration which delivers programmable atomic PvP and can now elect to settle FX transactions using either fiat or tokenised commercial bank money or an asset with the credit characteristics of central bank money. Furthermore, the network’s interoperable design can orchestrate settlement combinations, for example, where one currency leg... --- > Announcement: Fnality Joins OSTTRA and Baton Systems’ FX PvP Network to Expand Settlement Choice and Bolster Liquidity Efficiencies - Published: 2025-05-22 - Modified: 2025-06-13 - URL: https://batonsystems.com/insights/press-releases/fnality-joins-osttra-and-baton-systems-fx-pvp-network/ - Categories: Press Releases - Tags: Digital settlement, Distributed Ledger Technology, DLT, FX settlement, Liquidity Efficiencies, Liquidity Management, PvP Settlement, settlement risk, Settlement venues ｜PRESS RELEASE｜FX SETTLEMENT Fnality Joins OSTTRA and Baton Systems’ FX PvP Network to Expand Settlement Choice and Bolster Liquidity Efficiencies OSTTRA’s FX PvP settlement orchestration service grows as Fnality collaborates with Baton’s distributed ledger technology (DLT) and becomes the first digital settlement system to be added to the network. London, 22nd May 2025 - OSTTRA and Baton Systems today announced a strategic collaboration with Fnality following the successful completion of a proof-of-concept integrating Fnality’s system with their on-demand FX payment-versus-payment (PvP) settlement orchestration service. In addition to the current ledger-supported intraday and on-demand netting and settlement, Fnality expands available settlement options using an asset with the credit characteristics of central bank money, that is recorded on a DLT ledger, to settle around the clock. This will allow institutions to efficiently manage both liquidity and settlement risk. Over the past year, OSTTRA and Baton have been actively engaging with a group of leading market participants, including 12 major banks, to guide development plans and ensure the service enables more FX market participants to benefit from the assurance and liquidity management benefits of on-demand, atomic PvP settlement-functionality which can prove critical in volatile times. This initiative directly responds to market demand to expand PvP settlement orchestration to additional settlement venues. As part of the proof-of-concept, participants used an asset with the credit characteristics of central bank money, recorded on a DLT ledger, to offer PvP settlement services alongside commercial bank money. This expands settlement options, offers flexibility in selecting Fnality for one... --- > Baton's Core-Collateral now offers direct two-way connectivity to the DTCC's FICC and NSCC clearing houses - helping clients prepare for US Treasury clearing. - Published: 2025-05-13 - Modified: 2025-06-19 - URL: https://batonsystems.com/insights/press-releases/baton-connects-with-dtccs-ficc-and-nscc-clearing-houses/ - Categories: Press Releases - Tags: Baton systems ｜PRESS RELEASE｜COLLATERAL MANAGEMENT Baton Connects with DTCC’s FICC and NSCC Clearing Houses 13th May 2025 - Baton Systems today announced that it has directly connected The Depository Trust & Clearing Corporation’s (DTCC’s) Fixed Income Clearing Corporation (FICC) and National Securities Clearing Corporation (NSCC) to its Core-Collateral® network. Baton’s integration with FICC Baton — which provides connectivity and empowering networks in post-trade, settlement and collateral management — is now providing clients with direct connectivity to DTCC’s FICC as firms prepare for the Securities and Exchange Commission (SEC) U. S. Treasury clearing mandate which is set to take effect on December 31st, 2026, for cash transactions and June 30th, 2027, for repo transactions. This change in market structure means firms must consider establishing new connections or expand existing connections with clearing houses, necessitating considerable operational changes and system upgrades. In response to client demand and the anticipated surge in clearing volumes expected to be directed to FICC, Baton worked collaboratively with DTCC to provide the direct connectivity to link FICC to its Core-Collateral network. This new integration positions Baton to seamlessly support clients through this critical transition, reducing operational friction, supporting collateral optimisation and liquidity management, in addition to solving for the requirements of an evolving regulatory landscape. With this new connectivity, Baton’s collateral management clients can streamline collateral management processes for US Treasuries that they choose to clear with FICC. Clients will be able to access real-time balance information and eligibility schedules necessary to effectively optimise resource allocation and then efficiently... --- > Explore the challenges of intraday liquidity management, including risks, costs, and revenue opportunities, as banks adopt a more proactive approach. - Published: 2025-05-06 - Modified: 2025-06-23 - URL: https://batonsystems.com/insights/blog-posts/improving-intraday-liquidity-management/ - Categories: Blog Posts - Tags: Improving Intraday Liquidity Management, Intraday Liquidity, intraday liquidity buffers, Intraday Liquidity Management, intraday liquidity risk, managing intraday liquidity risk, real-time liquidity insights, Risk Assessment and Mitigation ｜BLOG POST｜LIQUIDITY MANAGEMENT Improving Intraday Liquidity Management: Risks, Costs and Revenue Impact Author, Arjun Jayaram, Founder and CEO, Baton Systems Improving intraday liquidity management is becoming critical for financial institutions worldwide. With the march toward faster settlement cycles and growing regulatory pressures, treasuries and operations teams are confronted with what can only be described as a multi-million-dollar challenge. The stakes are enormous. For a mid-sized bank, the annual cost of maintaining intraday liquidity buffers is estimated to exceed $100 million. Despite this, many institutions still rely on data produced by outdated, batch-based systems to manage their intraday liquidity needs. This practice leaves them vulnerable to rising costs, creates risks and inefficiencies, and results in untapped opportunities. This article summarises key insights from our latest white paper on Intraday Liquidity and Risk. We’ll explore the challenges financial institutions face in managing intraday liquidity and the practical constraints they face in addressing them. It also examines the internal business drivers that should be considered as institutions adopt a more proactive approach to managing the risks, costs, and revenue opportunities associated with intraday liquidity. Why Active Intraday Liquidity Management is No Longer Optional Financial institutions face unprecedented compulsion to tackle and improve intraday liquidity management head-on. Some of the key factors driving this shift include: Faster Settlements: As multiple markets globally transition to T+1 and further compression is likely, institutions need real-time insight into cash flows to ensure transactions settle within the required time frames. Regulatory Pressures: Whilst the Basel Committee on Banking... --- > Meet ECB intraday liquidity risk monitoring requirements with a real-time, consolidated, firm-wide view of liquidity positions. - Published: 2025-04-09 - Modified: 2025-06-23 - URL: https://batonsystems.com/insights/blog-posts/intraday-liquidity-monitoring-increase-intraday-liquidity-resilience-with-baton/ - Categories: Blog Posts - Tags: ECB Liquidity Guidelines, Financial Resilience, Intraday Liquidity Monitoring, Liquidity Risk Management, Market Volatility Impact, Modular Liquidity Solutions, Payment Flow Monitoring, real-time liquidity insights, Stress Testing Liquidity, Treasury Technology ｜BLOG POST｜LIQUIDITY MANAGEMENT Intraday Liquidity Monitoring: Increasing Liquidity Resilience Geopolitical tensions and market volatility have once again exposed a critical vulnerability for financial institutions: Liquidity risk. Last Friday, new US tariffs triggered steep declines in US and UK markets, followed by significant movements as this week has progressed with the Cboe’s Volatility Index (VIX) currently reporting a 5-year high. For many banks, the rapid shifts of recent days will have served as a stark reminder of their vulnerability to disrupted liquidity flows during periods of market stress. Adding to the pressure, just one week earlier, Reuters reported, the European Central Bank (ECB) had warned Eurozone banks that they should prepare for liquidity shocks amid geopolitical uncertainties. These developments emphasise the urgent need for banks to implement robust inter- and intraday liquidity management controls to weather unpredictable market disruptions. Meeting the ECB's Intraday Liquidity Risk Management Principles In November 2024, the ECB identified seven "Sound Practices for Managing Intraday Liquidity Risk" designed to help banks under European Banking Supervision to manage intraday stress outflows. The principles focus on critical objectives, including the need for real-time liquidity monitoring, strengthening intraday liquidity forecasting, proactive payment outflow management, and rigorous stress testing to assess resilience under adverse conditions. Banks that have yet to align their intraday liquidity risk management with ECB guidelines may now be re-evaluating their priorities. However, compliance will likely prove challenging for many due to the constraints of their legacy infrastructure. To help, we’re launching a series of articles exploring advancements... --- > Discover the strategies for effective intraday liquidity risk management from the European Central Bank's sound practices. - Published: 2025-04-02 - Modified: 2025-05-15 - URL: https://batonsystems.com/insights/editorial/are-the-ecbs-intraday-liquidity-risk-principles-achievable-before-the-next-crisis/ - Categories: Editorial Late last year, the European Central Bank (ECB) Banking Supervision published seven sound practices for managing intraday liquidity risk. Click here to read the article --- > Baton Systems announced today the continued expansion of its Core-Collateral® network with the addition of Euronext Clearing. Learn more! - Published: 2025-03-25 - Modified: 2025-06-19 - URL: https://batonsystems.com/insights/press-releases/baton-systems-expands-core-collateral-network-with-euronext-clearing/ - Categories: Press Releases - Tags: Baton systems ｜PRESS RELEASE｜COLLATERAL MANAGEMENT Baton Systems Expands Core-Collateral® Network with Euronext Clearing 25th March 2025 - Baton Systems announced today the continued expansion of its Core-Collateral® network with the addition of Euronext Clearing. This integration further strengthens Baton’s automated collateral management solution, which gives clients direct two-way connectivity to both consume CCP information and instruct collateral movements across its growing network. With the addition of Euronext Clearing, Core-Collateral clients can now use intelligent, automated workflows powered by real-time data to optimise margin for Euronext derivatives and options products previously cleared through LCH SA that have now migrated onto Euronext Clearing. Baton’s direct CCP connections enable clearing members to automate and optimise collateral allocations with increased efficiency and agility. Clients can instantly access up-to-date balance information, including both intraday and end-of-day positions, and aggregate this insight with access to up-to-date eligibility schedules for all connected CCPs. This enables them to seamlessly execute pledge and recall instructions for both cash and securities transfers across clients and Baton’s network of directly connected CCPs. Information is accessible either through Baton’s optimised platform or integrated into a clients’ internal system using APIs. Each new clearing house integrated into the Core-Collateral network enhances Baton’s clients' ability to efficiently manage collateral across the CCPs that are most strategically significant to their business. With Euronext Clearing now part of the network, Baton’s CCP coverage includes 96% of initial margin worldwide, as per Public Quantitative Disclosures (PQDs). “Baton continues to lead the industry in delivering real-time collateral management solutions," said... --- > Discover how Baton’s Integration Manager can reduce data integration timelines by almost 90%, improve data accuracy and availability across business lines for real-time insight. - Published: 2025-03-10 - Modified: 2025-06-23 - URL: https://batonsystems.com/insights/blog-posts/cut-integration-timelines-batons-low-code-data-integration-tool/ - Categories: Blog Posts - Tags: Data Aggregation, data integration, data integration manager, Financial Risk Management, Intraday Liquidity Management, Legacy System Integration, Low-code Data Integration, Real-time Account Visibility, Treasury Operations ｜BLOG POST｜BATON CORE Cut Integration Timelines: Baton’s Low-code Data Integration Tool Banks are facing mounting pressure to improve their data management practices. Regulatory bodies such as the Bank of England’s Prudential Regulatory Authority (PRA) and the European Central Bank (ECB) are placing greater emphasis on reliable data aggregation and effective intraday liquidity risk management. To stay both compliant and competitive, financial institutions must find a better way of accurately consolidating and distributing data trapped in legacy systems and fragmented silos. Enter Baton's Integration Manager - a powerful low-code data integration tool engineered by our expert development team to streamline data integrations and cut timelines by up to 90%. With this innovative tool, banks can move away from costly, time-intensive, and error-prone integration processes. Instead, they can seamlessly consolidate fragmented, inconsistent data with speed and efficiency. This high-quality data can then become a catalyst and foundation for unlocking real-time, business-specific insights, enabling better decision-making, enhanced risk management, and improved intraday liquidity management. Tackling the Challenges of Data Fragmentation Siloed systems and fragmented, inconsistent data pose significant challenges for financial institutions, especially in the post-trade arena. Many firms struggle to swiftly consolidate and distribute this data across different business areas so it can be analysed alongside other relevant information in a timely manner. These constraints hinder the firm's ability to use this data to uncover valuable, business-specific insights—whether it’s identifying opportunities to optimise funding/liquidity use or detecting early warning indicators that could prove crucial in mitigating counterparty, operational or liquidity risks. The... --- > Discover Baton Systems' new low-code Integration Manager, designed to reduce bank data integration timelines by 90%. Streamline data aggregation, enable real-time insights, and enhance risk and liquidity management. - Published: 2025-03-05 - Modified: 2025-06-19 - URL: https://batonsystems.com/insights/press-releases/baton-systems-accelerates-bank-integration-timelines/ - Categories: Press Releases - Tags: Baton systems ｜PRESS RELEASE｜BATON CORE Baton Systems Accelerates Bank Data Integration Timelines by Almost 90% Baton's new low-code Integration Manager streamlines data aggregation and increases availability across business lines, providing a foundation for real-time decision-making, comprehensive risk management, and optimised intraday liquidity management. 5th March 2025 - Baton Systems, a global leader in post-trade, payments, and settlements technology, has announced the launch of its Integration Manager. This innovative, low-code solution is designed to tackle longstanding challenges associated with data silos and outdated legacy systems by enabling financial institutions to consolidate fragmented and inconsistent data quickly and efficiently. With Baton’s Integration Manager, financial institutions can reduce data integration timelines from several days to hours. The tool enables banks to seamlessly aggregate and standardise internal and third-party data streams, ensuring structured and traceable data flows across systems that the bank can use to fuel automated workflows in multiple business lines. The launch of the Integration Manager comes at a critical time as regulators, including the Bank of England’s Prudential Regulatory Authority (PRA) and the European Central Bank (ECB) intensify their focus on data aggregation and intraday liquidity risk. The PRA's January 2025 Priorities Letter and the ECB's November 2024 Guidance underscore the pressing need for financial institutions to improve capabilities that ensure comprehensive and accurate data consolidation, help mitigate risk, and enhance resilience. By improving data accuracy and availability, multiple business units across financial institutions can leverage the consolidated data produced by Baton’s Integration Manager to generate real-time insights. This enables more informed decision-making,... --- > Strengthening post-trade FX: The updated FX Global Code (Dec 2024) increases trading platform data transparency and reduces settlement risk. - Published: 2025-02-27 - Modified: 2025-05-19 - URL: https://batonsystems.com/insights/editorial/exploiting-the-power-of-fintech-in-post-trade-fx/ - Categories: Editorial Fintechs are already tackling inefficiencies across many aspects of post trade FX and there is a real sense that significant improvements can be achieved as the market continues to evolve. Click here to read the article --- > Individuals from Bloomberg, Tradeweb, and Baton Systems explore what’s next for fixed income in 2025 including the growth of credit index futures, technological innovation, advancements in data, and clearing. - Published: 2025-02-25 - Modified: 2025-02-25 - URL: https://batonsystems.com/insights/editorial/the-trade-predictions-series-2025-what-to-expect-in-fixed-income/ - Categories: Editorial Individuals from Bloomberg, Tradeweb, and Baton Systems explore what’s next for fixed income in 2025 including the growth of credit index futures, technological innovation, advancements in data, and clearing. Click here to read the article --- > Baton Systems has unveiled its new Eligibility Service — a collaborative workflow solution designed to facilitate and automate the process of evaluating asset eligibility across diverse counterparties. - Published: 2025-02-25 - Modified: 2025-02-25 - URL: https://batonsystems.com/insights/editorial/baton-systems-launches-eligibility-service/ - Categories: Editorial Baton Systems has unveiled its new Eligibility Service — a collaborative workflow solution designed to facilitate and automate the process of evaluating asset eligibility across diverse counterparties. Click here to read the article --- > The updated FX Global Code, effective December 2024, strengthens transparency in trading platform data usage and enhances risk mitigation for FX settlement. - Published: 2025-02-25 - Modified: 2025-02-25 - URL: https://batonsystems.com/insights/editorial/gfxc-updates-fx-global-code/ - Categories: Editorial The updated FX Global Code, effective December 2024, strengthens transparency in trading platform data usage and enhances risk mitigation for FX settlement. Click here to read the article --- > Discover Baton Systems' new Eligibility Service, a solution that automates collateral eligibility evaluation, enhances transparency, and delivers precise data for smarter decision-making. Optimize workflows and reduce risk with this cutting-edge tool for treasury and collateral managers. - Published: 2025-02-19 - Modified: 2025-06-19 - URL: https://batonsystems.com/insights/press-releases/transform-collateral-management-with-eligibility-service/ - Categories: Press Releases - Tags: Baton systems ｜PRESS RELEASE｜COLLATERAL MANAGEMENT Baton Systems to Transform Collateral Management Decision-Making with New Eligibility Service Evaluating collateral eligibility automatically, Baton’s new service provides treasury, liquidity, and collateral managers with the transparency and precision needed to make smarter and better-informed decisions, elevating the accuracy of portfolio optimiser recommendations. 19th February 2025 - Baton Systems, a global leader in post-trade, payments, and settlements technology, has unveiled its new Eligibility Service—a collaborative workflow solution designed to streamline and automate the complex task of evaluating asset eligibility across diverse counterparties. This innovative service improves transparency, minimises risk, and enhances collateral management decision-making by analysing detailed eligibility schedules. With the option to seamlessly integrate the system into optimisation processes, the Eligibility Service enables portfolio recommendations to be grounded in precise and reliable data. Managing collateral in today’s volatile markets demands both accuracy and speed. Yet, many institutions rely on outdated manual processes to assess collateral eligibility, leading to inefficiency through increased costs and missed opportunities. Baton's Eligibility Service addresses these challenges by transforming how firms evaluate collateral eligibility in cleared derivatives, bilateral agreements, and triparty arrangements. By integrating with Baton’s comprehensive API, users benefit from a single normalised source of information covering complex counterparty schedules. Clients can quickly determine counterparty acceptability for cash and non-cash assets and unlock real-time data detailing information such as counterparty haircuts, collateral fees, cross-currency adjustments, and interest rates across venues, accounts, and product types. This insight can be used to identify higher-yielding opportunities often overlooked by manual assessments. The launch of... --- > Learn how Baton’ smart, automated & real-time collateral management workflows increase efficiencies, reduce cost and risk - Published: 2025-02-18 - Modified: 2025-06-23 - URL: https://batonsystems.com/insights/blog-posts/intelligent-collateral-management-workflows/ - Categories: Blog Posts - Tags: Automated Collateral Handling, Collateral Allocation, Collateral Balances, Collateral Eligibility Criteria, collateral management, Collateral Management Dashboard, Collateral Management Workflows, Collateral Movement, Collateral Optimisation, Core-Collateral ｜BLOG POST｜COLLATERAL MANAGEMENT Collateral Management Workflows: Intelligent, Automated and Real-Time Clients can now streamline complex processes, enhance straight-through processing, boost operational efficiencies, and reduce costs and risks with the launch of Baton’s new intelligent, automated, real-time collateral management workflows. Selecting the right assets for collateral delivery is a critical and complex task. Collateral providers require complete transparency over their cash and non-cash collateral and a thorough understanding of eligibility criteria. Without these key insights, optimal collateral placement becomes a costly and risky gamble. With a decade of experience as an Optimisation Liquidity Manager, I’ve experienced firsthand how immense the challenge of swiftly gathering these inputs for effective analysis and action can prove. When done manually, selecting assets and then instructing their movement can prove time-consuming, error-prone, and inefficient. Challenges like a lack of real-time visibility, meeting complex eligibility criteria, and mobilising assets across multiple venues can slow down operations and hinder strategic decision-making. Baton’s advanced intelligent workflows enable financial institutions to automate and optimise these processes with precision and ease. Collateral Management: The Need for Change For too long, firms have had to rely on outdated and often manually intensive solutions that fail to aggregate collateral requirements effectively or provide real-time data on asset availability. The inability to adapt these processes leads to unnecessary costs, increased risks, and missed opportunities for financial resources to be optimally deployed. Addressing these challenges requires innovative, scalable and extensible solutions able to automate tasks, eliminate inefficiencies, and provide actionable real-time insights. Increasing collateral management... --- > Reduce FX settlement risk with real-time technology. Discover PvP, conditional settlements, automated netting, and risk management tools aligned with the FX Global Code. - Published: 2025-01-31 - Modified: 2025-06-23 - URL: https://batonsystems.com/insights/blog-posts/updated-fx-global-code-fx-settlement-risk/ - Categories: Blog Posts - Tags: automated netting, Core-Payments, counterparty risk, FX Global Code, FX settlement risk, intraday liquidity optimisation, PoP Settlement, PvP Settlement, real-time monitoring ｜BLOG POST｜RISK MANAGEMENT Adapting to the Updated FX Global Code: Strategies for Reducing FX Settlement Risk Despite recent efforts, foreign exchange (FX) markets continue to be concerned by FX settlement risk, commonly referred to as Herstatt risk. Consequently, the recent release of the updated FX Global Code by the Global Foreign Exchange Committee (GFXC) includes a stronger emphasis on settlement risk mitigation practices, providing enhanced guidance and setting the clear expectation that market participants align their operations with the updated principles within the next 12 months. Settlement risk continues to draw significant attention from industry stakeholders due to the magnitude of the potential losses (the full notional of transactions is at stake) and the potential impact on the directly impacted counterparties and on the broader market. This risk is further amplified if trades are being settled on a gross basis, a practice that also creates a drain on funding and intraday liquidity. With 1,328 entities globally having signed a statement of commitment to the FX Global Code as of December 2024, it has become imperative for banks and financial institutions to implement robust solutions that not only meet the Code’s requirements but also modernise settlement processes for enhanced efficiency and control. Baton Systems' real-time technology offers practical, scalable solutions to help institutions effectively manage and control FX settlement risk. What Is FX Settlement Risk? FX settlement risk arises when one party in a currency transaction transfers the currency it owes but does not receive the counterparty’s payment. This exposes institutions... --- > Explore our blog on managing intraday liquidity risk by aligning with the ECB's Nov 2024 principles and the capabilities needed to comply. - Published: 2025-01-09 - Modified: 2025-07-03 - URL: https://batonsystems.com/insights/blog-posts/meeting-ecb-intraday-liquidity-risk-management-principles/ - Categories: Blog Posts - Tags: automated payment controls, ECB, ECB guidelines, ECB intraday liquidity risk, ECB liquidity risk sound practices, ECB principles, Financial Resilience, Intraday Liquidity Management, intraday liquidity risk, intraday liquidity risk management, liquidity forecasting, liquidity governance, Liquidity Management, liquidity risk, managing intraday liquidity risk, real-time liquidity monitoring, stress testing ｜BLOG POST｜LIQUIDITY MANAGEMENT Managing Intraday Liquidity Risk: Meeting the ECB's Principles In November 2024, the ECB intraday liquidity risk seven sound practices were published. These principles are designed to help financial institutions mitigate the potentially cascading impact of intraday liquidity shortfalls, especially during stress situations - a risk continuing to grow in intensity and complexity. For financial institutions, the stakes are high - recent events demonstrated the catastrophic impact that liquidity shortfalls can cause. However, for those firms that get it right, the potential benefits extend beyond intraday liquidity risk mitigation. Firms have an opportunity to enhance operational and financial resource efficiency and establish themselves as leaders in financial resilience. This post examines the rising importance of intraday liquidity, the core components of the ECB intraday liquidity risk management guidelines, and how Baton’s modular technology equips firms to effectively implement the tools and capabilities required to meet the ECB’s requirements with precision and ease. "Potential benefits extend beyond intraday liquidity risk mitigation to enhanced operational and financial resource efficiencies and the opportunity for banks to establish themselves as leaders in financial resilience. " Intraday Liquidity Risk: Why it's is a Growing Concern Intraday liquidity risk arises when a financial institution cannot meet its payment obligations at the required time due to insufficient liquidity. The ramifications of intraday liquidity risk and the potential for systemic risk are immense. When a bank’s payment gets delayed, it can quickly impact counterparties, initiating a domino effect with the cascading failure of obligations throughout the... --- > The Basel Committee on Banking Supervision has unanimously reaffirmed their expectation of implementing all aspects of the Basel III framework, an international set of banking standards aimed at improving resilience, without further delay. - Published: 2024-11-24 - Modified: 2024-12-24 - URL: https://batonsystems.com/insights/editorial/the-basel-committee-pushes-for-stronger-global-banking-standards/ - Categories: Editorial The Basel Committee reinforces the urgent need for full Basel III adoption. Alex Knight highlights intraday liquidity risk as vital for global stabilityClick here to read the article --- > The European Central Bank (ECB) recently conducted a thematic review to analyze existing intraday liquidity risk management practices among a sample of the most complex global systemically important banks (G-SIBs). - Published: 2024-11-20 - Modified: 2025-05-01 - URL: https://batonsystems.com/insights/editorial/baton-ecb-review-shows-intraday-liquidity-risk-not-a-side-issue/ - Categories: Editorial Following European Central Bank's guidance on intraday liquidity risk Alex Knight explains how "Real-time, high-quality data enables treasury managers to precisely monitor and predict liquidity needs and intelligently sequence payments, minimizing risks of shortfalls. Click here to read the article --- > Baton reports that the value of client asset movements instructed using its Core-Collateral® solution has reached a record high via Markets Media - Published: 2024-11-16 - Modified: 2025-06-04 - URL: https://batonsystems.com/insights/editorial/record-demand-for-real-time-collateral-management-says-baton/ - Categories: Editorial Baton reports that the value of client asset movements instructed using its Core-Collateral® solution has reached a record high via Markets MediaClick here to read the article --- > Asset movement executed in the first 10 months of 2024 using Baton’s Core-Collateral solution exceed $3.3 trillion - Published: 2024-11-14 - Modified: 2025-06-19 - URL: https://batonsystems.com/insights/press-releases/value-of-core-collateral-asset-movements-at-record-high/ - Categories: Press Releases - Tags: Baton systems ｜PRESS RELEASE｜COLLATERAL MANAGEMENT Baton Reports Record Demand for Real-time Collateral Management Amid Volatile Year for Markets Asset movements executed in the first 10 months of 2024 using Baton’s Core-Collateral solution exceed $3. 3 trillion – an almost 50% increase on the same period for 2023. 14th November 2024 - Baton Systems, a leading provider of innovative post-trade and collateral management technology solutions for capital market firms, has reported that the value of client asset movements instructed using its Core-Collateral® solution has reached a record high. By the end of October 2024, over $3. 3 trillion in cash and securities had been mobilised through the platform year to date — a nearly 50% increase compared to the same period in 2023 and more than double the value of asset movements recorded between January and October 2022. Baton's Core-Collateral solution allows financial institutions to manage collateral in real time across a network of central counterparties (CCPs), custodians, and nostro accounts. The unprecedented growth in the value of asset movements executed using the platform comes as the financial industry continues to face periods of market volatility – with the value of assets mobilised surging to an all-time high in the wake of the August equities sell-off. When a bout of pronounced market turbulence strikes, leveraging real-time balances to optimise collateral allocations and execute bulk cash and collateral movements efficiently across multiple venues enables banks to respond to changing market conditions with agility. “We’re seeing a clear shift in the way banks manage their... --- > Explore how the latest advancements in treasury tools are enabling banks to better manage & safely reduce intraday liquidity buffers - Published: 2024-11-12 - Modified: 2025-06-23 - URL: https://batonsystems.com/insights/blog-posts/intraday-liquidity-buffer-management/ - Categories: Blog Posts - Tags: funding intraday liquidity, intraday liquidity buffers, Intraday Liquidity Management, intraday liquidity optimisation, liquidity forecasting, liquidity risk, real-time intraday liquidity management, real-time liquidity, reducing intraday liquidity buffers ｜BLOG POST｜LIQUIDITY MANAGEMENT How Banks Can Better Manage and Safely Reduce Intraday Liquidity Buffers In this post, I’ll discuss how banks can safely reduce the capital tied up in intraday liquidity buffers, a costly but necessary part of treasury management. Accurate forecasting and effective intraday liquidity management are essential, and advancements in real-time treasury technology now make it possible to reduce intraday liquidity buffers significantly, creating opportunities for banks worldwide. During my eleven years working in post-trade operations across Singapore and New York, I closely observed treasury teams managing global liquidity needs, particularly during the overlapping settlement periods between Asia and the U. S. These experiences have shaped my understanding of the complexities of liquidity management and the management of large intraday buffers. Funding intraday liquidity buffers costs banks hundreds of millions annually. These buffers consist of highly liquid assets set aside to mitigate the risk of liquidity shortfalls when outbound payments precede inbound funds. Furthermore, the size of a bank's buffers depends largely on how well its treasury team can forecast and manage liquidity in real-time. However, many banks struggle to leverage real-time data to optimise liquidity management. Even when access to this data is available, many treasury teams lack the tools to act on it quickly and effectively. This creates a gap that prevents banks from making informed, data-driven decisions fast. How Legacy Constraints Hinder Intraday Liquidity Buffer Management To manage intraday liquidity buffers effectively, treasury teams need a clear view of payment obligations and receivables in real-time.... --- > While tokenization promises transparent & efficient FX settlement, Alex Knight highlights challenges integrating with fiat systems, emphasizing the need for visibility & control. - Published: 2024-11-10 - Modified: 2025-06-04 - URL: https://batonsystems.com/insights/editorial/to-tokenize-or-not-to-tokenize-fx/ - Categories: Editorial Tokenization in FX settlement sparks debate. While it promises transparency and efficiency, experts like Alex Knight highlight challenges in integrating tokenized assets with fiat systems, emphasizing the need for visibility and control. Click here to read the article --- > The Foreign Exchange Professionals Association (FXPA) labelled the updates “well-intentioned but flawed”, namely due to the overly complicated language used in the proposals and the lack of practical detail. - Published: 2024-11-01 - Modified: 2025-06-03 - URL: https://batonsystems.com/insights/editorial/fx-association-calls-out-proposed-fx-global-code-revisions-for-complexity-and-lack-of-clarity/ - Categories: Editorial The Foreign Exchange Professionals Association (FXPA) labelled the updates “well-intentioned but flawed”, namely due to the overly complicated language used in the proposals and the lack of practical detail. Click here to read the article --- > Discover how the latest advancements in treasury management tools help banks optimise intraday liquidity and reduce intraday funding cost - Published: 2024-10-20 - Modified: 2025-02-04 - URL: https://batonsystems.com/videos/batons-real-time-intraday-liquidity-management/ - Categories: Videos Recent financial and non-financial events, including Brexit, the Eurozone crisis, the 2023 collapse of various banks and current geopolitical issues have highlighted to both senior banking leaders and regulators significant operating risk challenges. ｜VIDEO｜ INTRADAY LIQUIDITY MANAGEMENT Baton's Real-time Intraday Liquidity Management 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 to discover how Baton's intraday liquidity management solution provides treasury and liquidity managers with the real-time visibility and control needed to handle intraday liquidity safely and efficiently. Blog Posts Intraday Liquidity Optimisation: A Treasury Manager’s Guide to Tooling Financial Resiliency: Why Intraday Liquidity Risk Management Needs a Rethink Why Intraday Liquidity Management Needs to be More Active and Granular Reduce the Strain on Liquidity Management by Splitting Payments Contact our Experts If you're interested in finding out how Baton Systems could help your firm better manage the risks presented by future events use the form below to contact our team today. 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 --- > Intraday FX Swaps: Settling transactions at a specific time of day to support liquidity management is becoming more achievable. - Published: 2024-10-20 - Modified: 2024-11-14 - URL: https://batonsystems.com/insights/editorial/intraday-fx-swaps-could-signal-new-dawn-for-liquidity-management/ - Categories: Editorial Intraday FX Swaps: Settling transactions at a specific time of day to support liquidity management is becoming more achievable. Access to immediate FX settlement via Payment versus Payment (PvP) will be a key enabler of this. As HSBC's Mark Williamson explains, “If you’re able to get better transparency around when your PvP is happening, and you know with certainty when funds will be transferred and received, you can then offer your intraday liquidity to others. ”Click here to read the article --- > BIS report highlights while Basel III reforms have strengthened the global banking system, warning flags indicate some large financial institutions may not be prepared for future crises - Published: 2024-10-10 - Modified: 2024-11-14 - URL: https://batonsystems.com/insights/editorial/murex-baton-basel-iii-banking-reforms-expose-emerging-chinks-in-global-finance-armor/ - Categories: Editorial Bank for International Settlements – BIS report highlights while Basel III reforms have strengthened the global banking system, warning flags indicate some large financial institutions may not be prepared for future crises. Key findings included a “€26 billion ($28. 5bn) shortfall in Total Loss-Absorbing Capacity (TLAC) among two global systemically important banks (G-SIBs)” and a “liquidity shortfall reported by three major banks”. Alex Knight commented, “This report is a major wake-up call for financial institutions currently reassessing their approach to liquidity management,” via FinadiumClick here to read the article --- > Baton Systems CEO Arjun Jayaram discusses growing post-trade inefficiencies, adapting to T+1 settlement, and managing liquidity amidst market volatility. - Published: 2024-10-05 - Modified: 2025-06-03 - URL: https://batonsystems.com/insights/editorial/fireside-friday-with-baton-systems-arjun-jayaram/ - Categories: Editorial The TRADE sits down with Arjun Jayaram, chief executive at Baton Systems, to discuss growing post-trade inefficiencies, how firms are adapting to T+1 and the impacts of market volatility on liquidity management processes. Click here to read the article --- > In today’s volatile markets, real-time visibility is crucial for managing collateral and payments. Tucker Dona from Baton Systems discusses how enhanced automation and real-time data can improve decision-making and control. - Published: 2024-09-26 - Modified: 2025-06-13 - URL: https://batonsystems.com/insights/editorial/real-time-visibility-why-it-is-key-for-managing-collateral-and-payments-now/ - Categories: Editorial In today’s volatile markets, real-time visibility is crucial for managing collateral and payments. Tucker Dona from Baton Systems discusses how enhanced automation and real-time data can improve decision-making and control. Click here to read the article --- > Discover how banks can cut costs by safely reducing intraday liquidity buffers. Learn 6 practical steps to optimise treasury operations with real-time data and predictive analytics. - Published: 2024-09-25 - Modified: 2025-06-25 - URL: https://batonsystems.com/insights/blog-posts/intraday-liquidity-optimization-a-treasury-managers-guide/ - Categories: Blog Posts - Tags: intraday liquidity optimisation, intraday liquidity risk, liquidity optimization tools, payment reconciliation, real-time liquidity management, Real‑time reconciliation, treasury management, Treasury management tools ｜BLOG POST｜LIQUIDITY MANAGEMENT Intraday Liquidity Optimisation: A Treasury Manager’s Guide to Tooling Optimizing intraday liquidity is crucial. Treasury managers want to avoid holding unnecessarily long balances or drawing on credit lines to meet intraday funding requirements whilst maintaining throughput levels and ensuring that high-priority obligations are met. However, many treasury teams are limited in their ability to optimize intraday liquidity because they don’t have access to the treasury management tools required to accurately predict peaks in intraday liquidity demands or easily adjust and automate the timed or scheduled release of outbound funds. In this blog post, I’ll explain how the latest technological advancements offer treasury teams the tools and capabilities needed to take intraday liquidity optimization to the next level. A seemingly endless series of recent events have created market volatility, the failure of various firms in 2023 and the inevitable increase in regulatory focus have all heightened the need for enhanced intraday liquidity management. The normalisation of higher interest rates has provided further impetus for firms to minimise suboptimal intraday funding choices, with the pressure firmly on to reduce borrowing costs and increase financial efficiency. Furthermore, active intraday liquidity management will be key with a move from T+1 to T+0 clearly on the horizon. Banks keen to optimize intraday liquidity now need, more than ever, a clear real-time view of payables and receivables and the speed and flexibility required to rapidly adjust strategies and stabilise intraday liquidity flows in response to changing conditions. Robust Intraday Liquidity Management: What Treasury... --- > Baton Systems introduces treasury management tools to optimise intraday liquidity, reduce costs and improve financial resilience in real-time - Published: 2024-08-20 - Modified: 2025-06-13 - URL: https://batonsystems.com/insights/press-releases/baton-releases-intraday-liquidity-treasury-management-tools/ - Categories: Press Releases - Tags: Baton systems ｜PRESS RELEASE｜LIQUIDITY MANAGEMENT Baton Systems to transform bank treasury capabilities with real-time intraday liquidity management and analysis tools Baton's new tools help banks meet prudential intraday liquidity obligations and reduce intraday liquidity buffers, costing many firms hundreds of millions of dollars annually, by optimising liquidity management processes and capital returns 20th August 2024 – Baton Systems, a global capital markets tech provider orchestrating the optimised settlement of $20-30 billion (USD) in asset value daily, has introduced new treasury management tools designed to optimise intraday liquidity, reduce costly buffers and mitigate risk in real-time. The new liquidity management capabilities offer firms a means to dramatically reduce their financing costs which have been elevated by interest rate normalisation. These tools also provide a future-proofing way to address the heightened regulatory focus on financial resilience following 2023's tumultuous market events. Lacking real-time information, an understanding of past liquidity behaviour, and the ability to control the release of individual payments effectively, treasury teams have until now struggled to accurately predict and optimise intraday liquidity use. As a result, they have been unable to effectively identify and repurpose available cash and securities, plan for intraday liquidity demands or accurately track intraday financial health. These factors have restricted their ability to test and implement strategies to reduce funding needs, divert available liquidity towards revenue-generating activities and proactively mitigate liquidity risk. The launch of these tools comes as the industry continues to assess performance through the recent global equity market sell-off and to explore how liquidity resilience... --- > Discover how advanced liquidity management tools offer real-time visibility and control - enabling firms to optimise payment flows, enhancial financial resiliency and cut costs. - Published: 2024-08-20 - Modified: 2025-06-25 - URL: https://batonsystems.com/insights/blog-posts/intraday-liquidity-management-needs-to-be-active-granular/ - Categories: Blog Posts - Tags: Intraday Liquidity, Intraday Liquidity Management, Liquidity, Liquidity Management, liquidity strategies, risk management ｜BLOG POST｜LIQUIDITY MANAGEMENT Why Intraday Liquidity Management Needs to be More Active and Granular Optimising intraday liquidity management across cash and securities is crucial to the business of any bank. Firms ultimately need to ensure they have the right access to the right assets throughout the course of each day to meet their obligations and the ability to control the release of settlements based on a range of binding constraints. In this blog, I’ll examine how treasury managers can overcome the challenges of siloed and inefficient legacy post-trade systems and processes to operate effectively and safely In order to optimise intraday liquidity management, treasury managers need to be able to capture balances, credit facilities, exposures and obligations at the start and then throughout each business day. This data needs to be visualised and interpreted through the lens of each of the firm’s legal entities, each of their counterparties, and each of the products for which they are settling. Only then can a firm accurately and holistically consider its current and expected end-of-day position. However, treasury managers often find themselves challenged by inefficient, outdated, and siloed legacy post-trade systems and batch-based processes, which are unable to produce the sort of uniform, comprehensive, and informative picture they need to identify: All of the assets currently available to them Which obligations have been met already And their present level of exposure The cost banks are paying for intraday liquidity management inefficiencies Firstly, there’s the prudential aspect. Regulators require that banks have sufficient intraday... --- > Learn how banks can boost financial resiliency by managing intraday liquidity risk in real time. Discover tools for visibility, stress testing, and safer settlements. - Published: 2024-08-20 - Modified: 2025-06-25 - URL: https://batonsystems.com/insights/blog-posts/financial-resiliency-rethinking-intraday-liquidity-risk/ - Categories: Blog Posts - Tags: Financial Resiliency, intraday liquidity management tools, intraday liquidity risk, Liquidity Management, manage intraday liquidity risk ｜BLOG POST｜LIQUIDITY MANAGEMENT Financial Resiliency: Rethinking Intraday Liquidity Risk The impact of recent market and geopolitical events has tested the financial resilience of banks across the globe. As a result, leaving many financial institutions questioning what they can do to future-proof their intraday liquidity risk management practices and better weather future storms. In this blog, I’ll be looking at how recent advances in technology now enable treasury managers to more effectively identify, understand, control and manage intraday liquidity risk and their real-time exposures across all business silos. Events as recent as the frantic global equities sell-off are likely to only intensify the regulatory focus on financial resiliency. This was already heightened by the 2023 collapse of various systemically important banks, as well as the conflicts in Ukraine and Gaza. Ultimately, we’re living in volatile times and with upcoming elections, chances are we’ll see further bouts of volatility before the year is out. The sudden impact of events like these can stress firms and exaggerate the market since, as I’m sure you’re aware, volatility spreads faster when banks can’t respond quickly. In fact, events don’t even have to be global or newsworthy for a firm to feel the impact of liquidity and capital constraints; localised changes can also stress an organisation. What’s needed is the ability for firms to more robustly manage intraday liquidity risk and to be able to rapidly react and adjust their strategies in light of changing conditions. What’s your exposure? Regulators want banks to be able to... --- > Recent market volatility exposes financial institutions to severe liquidity challenges. Explore why proactive, real-time intraday liquidity management is now crucial for financial stability. - Published: 2024-08-16 - Modified: 2025-06-13 - URL: https://batonsystems.com/insights/editorial/equity-market-meltdown-poses-intraday-liquidity-management-questions-high-time-for-answers/ - Categories: Editorial Alex Knight, Head of EMEA at Baton Systems, explains the critical importance of liquidity resilience amidst recent market volatility. As institutions face increased cash buffers and rising costs, effective intraday liquidity management and real-time data become essential for maintaining stability and navigating market turbulence. Click here to read the article --- > Alex Knight & Anna Reitman discuss why optimizing intraday liquidity is challenging. Lack of data confidence, historical insights, & scheduling limits restrict firms' efficiency. - Published: 2024-08-16 - Modified: 2025-06-13 - URL: https://batonsystems.com/insights/editorial/with-existing-tech-stretched-to-the-limit-at-t1-intraday-liquidity-turns-to-dlt-for-t0/ - Categories: Editorial Alex Knight discusses the challenges of optimising intraday liquidity with Anna Reitman - the economic impact a lack of confidence in available data can have on firms, prudential concerns and how limited access to the historical insights and analytics needed to validate assumptions, along with minimal payment scheduling capabilities can restrict optimisation. Click here to read the article --- > How banks able to rapidly identify, assess, & mitigate post-trade risk are able to confidently pivot into new business lines, innovate, & grow revenues - Published: 2024-08-09 - Modified: 2025-06-23 - URL: https://batonsystems.com/insights/blog-posts/business-growth-requires-firm-wide-post-trade-risk-controls/ - Categories: Blog Posts - Tags: counterparty risk, liquidity risk, mitigate post-trade risk, operational risks, payment reconciliation, payment risk, post-trade risk, post-trade risk controls ｜BLOG POST｜RISK MANAGEMENT Business growth requires firm-wide post-trade risk controls “Office of the Comptroller of the Currency said 11 of the 22 large banks it supervises have “insufficient” or “weak” management of so-called operational risk,” Reported by Bloomberg on 21 July 2024 The twin goals of minimising risk while maximising revenues lie at the heart of financial markets. Whilst traditionally seen as conflicting objectives, banks able to rapidly identify, assess, and mitigate post-trade risk on an enterprise-wide basis can be more agile and use this to their competitive advantage. These institutions can confidently pivot into new business lines, innovate, and grow revenue streams. And here’s the secret—it comes down to confidence—confidence in your data, confidence in your level of visibility, confidence in your ability to swiftly instigate effective controls, and confidence that you can do all of these things consistently across your enterprise. Why limited transparency limits capital returns Firms can’t fix what they can’t see. So, when an institution lacks the level of transparency required to effectively monitor and control a particular activity, the default risk-limiting protocol is to minimise exposure. This often means decreasing volumes, exiting relationships, and even selling off divisions. These actions not only curtail current revenue streams but also make it increasingly difficult to onboard new clients or expand existing client activity in the long term. In short, mitigating post-trade risk often means sacrificing current and future revenue opportunities. It also comes with the burden of greater oversight, compliance, and controls for the remaining business.... --- > Arjun Jayaram, CEO of Baton Systems, discusses how interoperable technologies offer a practical pathway for investment banks to modernise post-trade systems without the disruption of a complete overhaul. Discover how this approach enhances risk management and future-proofs your business. - Published: 2024-07-30 - Modified: 2025-06-04 - URL: https://batonsystems.com/insights/editorial/interoperability-the-fast-lane-to-innovation-that-swerves-disruption/ - Categories: Editorial Arjun Jayaram, CEO of Baton Systems, discusses how interoperable technologies offer a practical pathway for investment banks to modernise post-trade systems without the disruption of a complete overhaul. Discover how this approach enhances risk management and future-proofs your business. Click here to read the article --- > Baton Systems integrates with JSCC, enabling Clearing Members to automate collateral workflows, optimise processes & view real-time balances - Published: 2024-07-23 - Modified: 2025-06-19 - URL: https://batonsystems.com/insights/press-releases/baton-systems-adds-jscc-to-its-growing-ccp-network/ - Categories: Press Releases - Tags: Baton systems ｜PRESS RELEASE｜COLLATERAL MANAGEMENT Baton Systems adds JSCC to its growing CCP network Clearing Members at the Japanese Securities Clearing Corporation can now view End of Day and Intraday balances, automate movement of collateral, and optimise their processes July 23th 2024, London – Baton Systems (“Baton”), the global fintech digitally transforming post-trade processing, announced today it has completed bi-directional integration with the Japanese Securities Clearing Corporation (JSCC) through its Baton Core-Collateral® ecosystem. With JSCC joining the Baton Core-Collateral network, JSCC’s Clearing Member clients using the Core-Collateral platform will be able to directly access the largest CCP in APAC. This addition complements the already integrated SGX, expanding the network of APAC CCPs accessible through Baton. This direct connectivity ensures clearing members receive normalised data from Baton directly from the CCP, bypassing the need to receive files through their clearing members. This enhances efficiency and enables the clearing member to receive real-time balances with the ability to check eligibility and then to instruct and move cash and non-cash collateral to JSCC. Baton’s Core-Collateral clients can now automate and expedite the movement of cash and securities across thirteen CCPs, including the largest nine, covering 95% of global initial margin according to Public Quantitative Disclosures (PQDs) data. They can do this through a single platform that also consolidates and normalises real-time updates regarding required margin, sources of collateral, and eligibility profiles. Additionally, Baton is integrating collateral eligibility data for JSCC into its Baton eligibility Application Programming Interface (API). This API enables automated, real-time determination of... --- > Alex Knight reveals why real-time visibility & control are crucial for banks. Learn to effectively monitor, measure, and manage intraday liquidity. - Published: 2024-07-20 - Modified: 2025-06-03 - URL: https://batonsystems.com/insights/editorial/banks-still-hitting-the-buffers-on-intraday-liquidity-management/ - Categories: Editorial Article exploring why real-time visibility and control is crucial for banks to effectively monitor, measure, and manage intraday liquidity, as highlighted by our Alex Knight Click here to read the article --- > Learn why access to up-to-date information is essential for banks keen to effectively identify, assess, mitigate, and ultimately achieve post-trade risk reduction - Published: 2024-06-26 - Modified: 2025-06-23 - URL: https://batonsystems.com/insights/blog-posts/why-post-trade-risk-reduction-requires-up-to-date-insight/ - Categories: Blog Posts - Tags: liquidity risk, payment risk management, post-trade risk reduction, risk management ｜BLOG POST｜RISK MANAGEMENT Why post-trade risk reduction requires up-to-date insight This is the first of a series of posts focusing on the key challenges facing risk professionals and related stakeholders when it comes to reducing post-trade risk. It explains how Baton’s proven Core-Payments® solution will enable your firm to achieve real-time, effective and proactive risk management and control across your entire business, allowing you to: IDENTIFY emerging operational, counterparty, liquidity and payment risks. ASSESS different types of post-trade risk with the power of historic and real-time data. MITIGATE with robust, automated workflows powered by conditional rules and controls. Firms have invested millions of dollars in real-time tools for monitoring and managing market risk. But what about counterparty, operational, payments and liquidity risks? These same businesses struggle to put in place the processes and capabilities necessary to effectively manage, control and achieve a reduction in these post-trade risks. This is accentuated by the legacy infrastructure that underpins most capital market firms, including: The proliferation of siloed systems, processes and data. Batch-generated data that’s simply too slow for risk decisions. Many escalation and operational processes continue to require manual intervention. By way of example, let’s focus our attention on how these constraints impact a bank’s ability to effectively manage and control the risks associated with the potential failure of a large market participant. Once the rumours start becoming a reality and it’s increasingly evident that one of your counterparties is facing a liquidity crunch – it’s natural to slam on the brakes.... --- > Alex Knight highlights the growing challenges of manual post-trade processes. Shorter timelines put pressure on efficiency and costs, demanding automated solutions. - Published: 2024-05-28 - Modified: 2025-06-03 - URL: https://batonsystems.com/insights/editorial/fintech-companies-sceptical-of-secs-statement-on-t1/ - Categories: Editorial Alex Knight, Head of EMEA at Baton Systems, explains the continued reliance on post-trade processes with a manual element could present challenges, as “While far from ideal from a cost and efficiency perspective, that worked when there was plenty of time to fix things, but now that we’re moving to much shorter timelines, the pressure is well and truly on. ” Click here to read the article --- > Real-time payment reconciliations, why it’s not just about increasing operational efficiencies but becoming a matter of systemic and regulatory resilience – Alex Knight explains via Traders Magazine - Published: 2024-05-20 - Modified: 2025-06-03 - URL: https://batonsystems.com/insights/editorial/from-herstatt-to-credit-suisse-bankings-fifty-year-call-for-real-time-reconciliation/ - Categories: Editorial Real-time payment reconciliations, why it's not just about increasing operational efficiencies but becoming a matter of systemic and regulatory resilience - Alex Knight explains via Traders Magazine Click here to read the article --- > Alex Knight warns next-day reconciliations leave banks without critical real-time insight, risking payments to failing counterparties & hindering quick action in volatility. - Published: 2024-04-07 - Modified: 2025-06-04 - URL: https://batonsystems.com/insights/editorial/settlement-failures-more-common-and-more-costly/ - Categories: Editorial Alex Knight, Head of EMEA at Baton Systems, explains next day reconciliations means ops, treasury, business & risk teams are often operating without critical real-time insight. As he highlights, this means “Banks risk continuing to make payments and settlements to a failing counterparty and will be unable to act quickly in times of volatility” Click here to read the article --- > Alex Knight explains how political events drive market volatility. Learn why proactive risk management is crucial for banks to adapt to changing currency, collateral, and funding dynamics. - Published: 2024-03-13 - Modified: 2025-06-04 - URL: https://batonsystems.com/insights/editorial/the-year-of-the-election-unpredictable-events-need-vigilance-at-banks/ - Categories: Editorial Alex Knight, Head of EMEA at Baton Systems, delves into the challenges of market volatility in response to political events. The article discusses the impact on financial institutions, highlighting the need for proactive risk management strategies amidst uncertainty. Alex emphasises the importance of understanding how political shifts can affect currency values, collateral requirements, and funding dynamics, urging financial institutions to adapt to the evolving landscape to thrive in unpredictable markets. Click here to read the article --- > Baton’s Head of EMEA, Alex Knight, explores the challenges of extended trading hours in the FX market and argues for innovative solutions like DLT to tackle challenges over outdated practices like night shifts. - Published: 2024-03-08 - Modified: 2025-06-04 - URL: https://batonsystems.com/insights/editorial/night-at-the-fx-desk-a-relic-that-belongs-in-the-museum/ - Categories: Editorial Baton's Head of EMEA, Alex Knight, explores the challenges of extended trading hours in the FX market and argues for innovative solutions like DLT to tackle challenges over outdated practices like night shifts. Click here to read the article --- > OSTTRA will operate an on-demand FX PvP service, powered by Baton’s proven DLT, designed to mitigate FX settlement risk - Published: 2024-03-06 - Modified: 2025-06-13 - URL: https://batonsystems.com/insights/press-releases/osttra-and-baton-systems-partner-to-launch-fx-pvp-service-mitigating-settlement-risk-in-fx-markets/ - Categories: Press Releases - Tags: Baton systems ｜PRESS RELEASE｜FX SETTLEMENTS OSTTRA and Baton Systems partner to launch FX PvP service, mitigating settlement risk in FX markets OSTTRA will operate an on-demand payment-versus-payment (PvP) service, powered by Baton’s proven distributed ledger technology, designed to mitigate settlement risk in the US$2. 2 trillion of daily FX turnover settled outside CLS. The service will be open to FX market participants globally – including market maker banks, investment managers, and large corporates. Initial participants include HSBC and Wells Fargo. Global post-trade solutions provider, OSTTRA, announced today the launch of an FX PvP settlement orchestration service designed to mitigate bilateral settlement risk between participants, while optimising intraday funding, liquidity, and credit risk. The launch of the new OSTTRA service comes after the Bank for International Settlements’ Committee on Payments and Market Infrastructures (CPMI) last year advocated an increase in the adoption of PvP in FX transactions to reduce FX settlement risk (or “Herstatt risk”). As of April 2022, the Bank for International Settlements (BIS) said that there could be settlement failures in US$2. 2 trillion daily deliverable FX turnover, because it either sat outside PvP platforms or as “on-us without loss protection” trades. The PvP service will be delivered on proven distributed ledger technology (DLT) from Baton Systems (Baton) and marks a significant milestone in increasing market wide access to PvP, helping to address FX settlement risk concerns. The focus will be on settling flows not currently settled on CLS, including non-CLS eligible transactions such as offshore Chinese renminbi, which has almost... --- > Ravindra Madduri highlights banks' real-time reconciliation challenges. Diverse payment standards across entities create complex hurdles for global payments. - Published: 2024-02-13 - Modified: 2025-06-03 - URL: https://batonsystems.com/insights/editorial/baton-systems-boes-ambitious-wholesale-payments-plan-puts-rtgs-at-beating-heart-of-uk-financial-system/ - Categories: Editorial Baton's Global Head of Product Management, Ravindra Madduri, highlighted the challenges faced by banks in real-time reconciliation due to the diverse array of payment standards across various entities such as banks, payment companies, debtors, creditors, and agent banks. Click here to read the article --- > With high rates & rising CCP needs, optimize collateral. Helen Bartholomew & Tucker Dona explain how Baton's native connectivity reduces cash opportunity cost & streamlines moves. - Published: 2024-01-25 - Modified: 2025-06-13 - URL: https://batonsystems.com/insights/editorial/citi-and-jp-morgan-vie-to-extend-collateral-optimisation-to-ccps/ - Categories: Editorial Helen Bartholomew discusses how the high rate environment and increasing CCP requirements are driving the need for firms to optimise the composition of collateral posted to CCPs, to look at the opportunity cost of posting cash and execute moves in the most efficient manner. The latter often presenting logistical challenges that native connectivity to CCPs and Custodians, such as that provided by Baton, allows firms to overcome. As Tucker Dona explains it allows us to “provide inputs to help firms make the decision of the optimal security to post out to the CCPs and a simple, consistent way to message the instructions. ” via Risk. net Click here to read the article --- > Explore how split settlements can ease liquidity management challenges and improve settlement efficiency with Baton’s Core-FX solution - Published: 2024-01-23 - Modified: 2025-06-23 - URL: https://batonsystems.com/insights/blog-posts/reduce-the-strain-on-liquidity-management-by-splitting-settlements/ - Categories: Blog Posts - Tags: FX settlement, Intraday Liquidity Management, Liquidity Management, netting benefits, post-trade processes, PvP Settlements, reducing liquidity risk, reducing payment risk, splitting settlements ｜BLOG POST｜LIQUIDITY MANAGEMENT Reduce the strain on liquidity management by splitting settlements Any firm that is settling large amounts, especially in hard-to-fund currencies, will be familiar with the difficulties of accessing the liquidity required to meet their payment obligations. Splitting settlements is a natural consideration, however operational constraints have previously limited the appeal. In this blog post, Alex Knight explains how the ability to automatically agree and process split settlements can massively reduce the pressures around liquidity and eliminate “settlement log jams” whilst ensuring that the post-trade processes operate on a fully STP basis. When settlement splitting is achieved alongside both netting and PvP settlement THEN ITS REALLY GREAT. Splitting refers to the process by which parties to a settlement deliver their obligations in multiple transfers of smaller amounts on value date, the sum of which adds up to their full obligation. This allows the paying party/parties to lengthen the time period over which they need to secure the available funding required in order to meet their overall obligation, enabling easier and more efficient liquidity management. Even with the benefits of netting, the notionals that need to be settled between a pair of counterparties can be very large. What’s important is not necessarily the absolute notional, but rather the amount of currency that needs to be delivered in the context of the available funding or liquidity for the currency or currencies that need to be settled, at the time that the settlement is due to take place. An example often... --- > Baton's Alex Knight explains how banks can manage payment risk and react to market changes. Implement no-code hold rules swiftly across all payment functions. - Published: 2024-01-18 - Modified: 2025-06-04 - URL: https://batonsystems.com/insights/editorial/payment-risk-facing-the-regulators-with-confidence/ - Categories: Editorial Baton's Head of EMEA, Alex Knight, explains that banks can now effectively supervise and manage payments risk across all business lines - be alerted to and quickly react to changing market conditions by swiftly implementing no code hold rules across all payment functions. Click here to read the article --- > Explore how generative AI is transforming QA at Baton—automating repetitive tasks, improving test coverage, and freeing up teams to focus on complex scenarios. - Published: 2024-01-16 - Modified: 2025-06-25 - URL: https://batonsystems.com/insights/blog-posts/ai-for-qa-testing-how-were-advancing-qa-with-gen-ai/ - Categories: Blog Posts - Tags: Advancing QA with Gen AI, AI for QA Testing, Artificial Intelligence, Gen AI, Generative Ai ｜BLOG POST｜TECHNOLOGY AI for QA Testing: How We're Advancing QA with Gen AI Trusted by some of the world’s largest banks to securely process and settle billions of dollars of cash and securities every day is a privilege and responsibility the team here at Baton take very seriously. Developing and deploying operationally resilient solutions is fundamental for our business, so we take a rigorous approach to quality assurance (QA) testing. It’s crucial that the solutions we deploy to clients meet (and ideally exceed) their expectations both in terms of quality and performance. As such, functional testing cycles continue until the desired quality standards are consistently met and, as is often the case with software development, this can prove very time-consuming. “Generative AI has freed up more time to focus on identifying and working on more complex test cases” Keen to deploy diligently tested solutions out to clients faster, our testing team, which I’m part of, has been looking at how we can increase the productivity and efficiency of our functional testing process. This led us to exploring how the latest advancements in generative artificial intelligence (AI) could prove advantageous by providing an automated means of writing robust and efficient test scripts. “. . the team is now able to be more innovative and productive” Using AI for QA Testing Looking for a solution that would work well within our existing architecture and workflows, and enable our team to achieve maximum test coverage (including all edge cases) while accelerating the overall... --- > Nikhil Menon explores how Baton Systems uses generative AI to boost functional testing efficiency & robustness, delivering rigorously tested solutions faster. - Published: 2024-01-15 - Modified: 2025-06-04 - URL: https://batonsystems.com/insights/editorial/testing-testing-1-2-3-exploring-how-ai-accelerates-testing-in-the-development-and-deployment-of-fintech-solutions/ - Categories: Editorial Learn how Baton Systems using generative AI is improving the efficiency, effectiveness and robustness of our functional testing process. Nikhil Menon explores how AI is enabling our testing team to be more innovative and productive - resulting in the delivery of even more rigorously tested solutions deployed in an expedited time frame. Click here to read the article --- > The approaching T+1 settlement deadline highlights market misalignment, with industry bodies differing on how and when the EU should align with North America. - Published: 2024-01-10 - Modified: 2025-06-04 - URL: https://batonsystems.com/insights/editorial/t1-deadline-brings-market-misalignment-into-focus/ - Categories: Editorial T+1 deadline brings market misalignment into focus via The Banker Click here to read the article --- > JP Morgan’s collateral services team is working with post-trade fintech Baton Systems to enable triparty clients to automate the optimisation of collateral to meet margin calls at a range of clearing houses. - Published: 2024-01-02 - Modified: 2025-06-04 - URL: https://batonsystems.com/insights/editorial/jp-morgan-deploys-baton-systems-for-collateral/ - Categories: Editorial JP Morgan’s collateral services team is working with post-trade fintech Baton Systems to enable triparty clients to automate the optimisation of collateral to meet margin calls at a range of clearing houses. Click here to read the article --- > JP Morgan’s collateral services unit has collaborated with Baton Systems, by deploying the latter’s Core-Collateral solution to enable tri-party clients to automate the optimisation of collateral to meet margin calls at a range of CCPs. - Published: 2024-01-02 - Modified: 2025-06-04 - URL: https://batonsystems.com/insights/editorial/jp-morgan-and-baton-systems-team-up-to-expand-ccp-coverage-for-collateral-management/ - Categories: Editorial JP Morgan’s collateral services unit has collaborated with Baton Systems, by deploying the latter’s Core-Collateral solution to enable tri-party clients to automate the optimisation of collateral to meet margin calls at a range of CCPs. Click here to read the article --- > Baton Systems (“Baton”), the global fintech digitally transforming post-trade processing, announced today its work with J.P. Morgan’ Collateral Services team, to enable tri-party clients to automate the optimisation of collateral to meet margin calls at a range of CCPs globally. Baton’s Core-Collateral® solution has been integrated into J.P. Morgan’s CCP Margin Exchange (CCPMx) - Published: 2023-12-18 - Modified: 2025-06-13 - URL: https://batonsystems.com/insights/press-releases/baton-systems-collaborates-with-j-p-morgan-to-expand-ccp-coverage-for-collateral-management-optimisation-solution/ - Categories: Press Releases - Tags: Baton systems ｜PRESS RELEASE｜COLLATERAL MANAGEMENT Baton Systems collaborates with J. P. Morgan to Expand CCP Coverage for Collateral Management Optimisation Solution Collaboration will enable J. P. Morgan’s Collateral Services clients to benefit from an automated collateral optimisation process for cleared derivatives, across 13 CCPs globally December 18th 2023, London – Baton Systems (“Baton”), the global fintech digitally transforming post-trade processing, announced today its work with J. P. Morgan’ Collateral Services team, to enable tri-party clients to automate the optimisation of collateral to meet margin calls at a range of CCPs globally. Baton’s Core-Collateral® solution has been integrated into J. P. Morgan’s CCP Margin Exchange (CCPMx). Graham Gooden, EMEA Head of Triparty Collateral Management at J. P. Morgan commented “We’re delighted to help clients find increased efficiencies through improved collateral mobilisation in the clearing process. ” Having gone live with the first CCP in November, the collaboration will enable the roll out of the solution across Baton’s extensive CCP network which currently includes 13 major CCPs across EMEA, North America and Asia, together comprising more than 94% of cleared margin posted by U. S. registered FCMs. As the higher interest rate environment continues to challenge derivative market participants, selecting the optimal composition to meet margin obligations is becoming critical. However, siloed data and manual collateral management processes often mean that understanding what collateral is available, selecting and then mobilising the most advantageous assets proves to be an extremely complicated, time-consuming and laborious task. Reimagining this process, tri-party clients can now easily aggregate all... --- > Alex Knight discusses the understated risk of payment failures. Learn how tech, clean data & analytics mitigate risk and boost efficiency, including multilateral netting pros/cons. - Published: 2023-12-12 - Modified: 2025-06-04 - URL: https://batonsystems.com/insights/editorial/the-full-fx-unfiltered-with-baton-systems-2/ - Categories: Editorial Alex Knight talks with Colin Lambert about managing payment risk across multiple business lines with low code, configurable rules, the benefits of using time-stamped data and analytics to better understand liquidity drivers on an intraday basis and how banks can overcome operational constraints and use payment splitting combined with instant PvP settlement to better manage funding requirements throughout the business day. Click here to watch the video --- > As T+1 looms ever nearer, Alex Knight, head of EMEA at Baton Systems, delves into the effect of the shift on FX swaps, highlighting the opportunities they hold for market participants, as well as further establishing the importance of more sophisticated settlement technology. - Published: 2023-12-10 - Modified: 2025-06-04 - URL: https://batonsystems.com/insights/editorial/intraday-fx-swaps-needs-better-tech-for-a-prime-efficiency-revolution/ - Categories: Editorial As T+1 looms ever nearer, Alex Knight, head of EMEA at Baton Systems, delves into the effect of the shift on FX swaps, highlighting the opportunities they hold for market participants, as well as further establishing the importance of more sophisticated settlement technology. Click here to read the full article --- > Discover how the latest advancements in treasury management tools help banks optimise intraday liquidity and reduce intraday funding cost - Published: 2023-12-07 - Modified: 2024-11-03 - URL: https://batonsystems.com/videos/the-full-fx-unfiltered-with-baton-systems-3/ - Categories: Videos Recent financial and non-financial events, including Brexit, the Eurozone crisis, the 2023 collapse of various banks and current geopolitical issues have highlighted to both senior banking leaders and regulators significant operating risk challenges. ｜VIDEO｜ RISK MANAGEMENT The Full FX Unfiltered – with Baton Systems 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 Knight, Head of EMEA at Baton Systems, speaks with Colin Lambert about an often-overlooked risk: the payment function. Alex explores the potential impact of payment failures and highlights how technology, paired with timely, accurate data and analytical tools, can both reduce risk and enhance efficiency in payment processes. Watch the video to learn more. Blog Posts Why scaling your business and growing revenues requires robust enterprise-wide post-trade risk controls How can you make the right risk decision without up-to-date information? Transform your firm’s ability to mitigate payment risk with on-demand rules Mitigating counterparty risk harness the power of real-time reconciliations Contact our Experts If you're interested in finding out how Baton Systems could help your firm better manage the risks presented by future events use the form below to contact our team today. 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 --- > Baton's Head of Global Sales and EMEA at Baton Systems, Alex Knight, discusses how firms can better manage ballooning derivatives margin costs via Alex Pugh via The DESK. - Published: 2023-12-05 - Modified: 2025-06-03 - URL: https://batonsystems.com/insights/editorial/ballooning-margin-costs-hobble-us-treasury-basis-trade-returns-research-finds/ - Categories: Editorial Baton's Head of Global Sales and EMEA at Baton Systems, Alex Knight, discusses how firms can better manage ballooning derivatives margin costs via Alex Pugh via The DESK. Click here to read the full article --- > Alex Knight explains how DLT enables faster, riskless settlement. Achieve full PvP & netting on demand, with instantaneous ownership for same-day settlement. - Published: 2023-12-05 - Modified: 2025-06-04 - URL: https://batonsystems.com/insights/editorial/the-uncertainty-of-t1/ - Categories: Editorial Baton's Head of Global Sales and EMEA at Baton Systems, Alex Knight, explains DLT can be used to help firms achieve the necessary settlement timeframes without introducing additional risk with “Proven solutions (that) allow a full PvP settlement process, with netting, to be completed on demand and within minutes, enabling the settling parties to benefit from the instantaneous exchange of ownership, including for same-day settlement. ” via The Full FX. Click here to read the full article --- > Margin costs for US treasury future positions has jumped significantly since November 2020, which could be problematic for hedge funds looking to benefit from differences between the derivatives contracts and cash equivalents according to specialist data analytics firm OpenGamma. - Published: 2023-11-30 - Modified: 2025-06-04 - URL: https://batonsystems.com/insights/editorial/margin-on-treasury-futures-spikes-in-three-years/ - Categories: Editorial Margin costs for US treasury future positions has jumped significantly since November 2020, which could be problematic for hedge funds looking to benefit from differences between the derivatives contracts and cash equivalents according to specialist data analytics firm OpenGamma. Click here to read the article --- > Discover how Baton's interoperable technology interoperates with the bank's existing legacy systems and processes to enable firms to benefit from faster and safer asset movements - Published: 2023-11-29 - Modified: 2025-06-25 - URL: https://batonsystems.com/insights/blog-posts/interoperability-optimise-payments-while-retaining-legacy-tech/ - Categories: Blog Posts - Tags: integration, INTEROPERABILITY, interoperable technology, Payment Optimisation ｜BLOG POST｜PAYMENTS Interoperability: Optimise Payments While Retaining Legacy Tech In today’s complex and fast-moving markets, firms need the ability to quickly adapt their legacy post-trade systems to new products, processes, and policies without resorting to ‘rip and replace’. Ronn Baker, Baton Systems’ Senior Director of North American Sales, explains why interoperability is fundamental to a firm’s client retention and market viability. Markets businesses at many firms have evolved organically as new products and markets have come into play. Furthermore, many of today’s organisations are the result of one or more mergers or acquisitions. Consequently nearly all firms today operate on a complex infrastructure of legacy and siloed post-trade systems. No two are the same, and it’s not unusual for them to have been in place for decades. Interoperability - the ability to connect different platforms and applications in a coordinated, automated way that eliminates manual interactions - allows new systems and technology like distributed ledgers to be introduced seamlessly and in a way that does not disrupt a firm’s existing processes. With markets continuing to grow in complexity and speed, and initiatives such as T+1 and T+0 in the pipeline, the need for the efficient movement of funds and for faster, more accurate, automated and transparent processing is paramount. Ripping and replacing is rarely an option; rather, firms want to continue to operate with the variety of legacy systems that they have in place whilst planning for a carefully orchestrated and often long-term programme of system upgrades and retirement. "With... --- > Baton’s Head of Global Sales and EMEA at Baton Systems, Alex Knight, discusses the move to accelerated settlement with Anna Reitman, explaining how firms can use technology to overcome T+1 FX settlement challenges so they can benefit from good liquidity and “still net and safely settle quickly and efficiently” via Finadium. - Published: 2023-11-23 - Modified: 2025-06-04 - URL: https://batonsystems.com/insights/editorial/interview-baton-systems-knight-on-assets-mobility-and-accelerated-settlement-2/ - Categories: Editorial Baton's Head of Global Sales and EMEA at Baton Systems, Alex Knight, discusses the move to accelerated settlement with Anna Reitman, explaining how firms can use technology to overcome T+1 FX settlement challenges so they can benefit from good liquidity and “still net and safely settle quickly and efficiently" via Finadium. Click here to read the full article --- - Published: 2023-11-22 - Modified: 2023-11-23 - URL: https://batonsystems.com/insights/editorial/dlt-hits-its-stride-in-ops/ - Categories: Editorial Alex Knight explains how DLT is being used "in production right now by Tier 1 banks and has been for several years" in a discussion with Financial Technologies. Click here to read the full article --- > Discover how access to high-quality real-time data can help banks reduce intraday funding needs and improve cross-entity cash management. - Published: 2023-11-14 - Modified: 2025-06-25 - URL: https://batonsystems.com/insights/blog-posts/reduce-intraday-funding-needs-with-real-time-insight/ - Categories: Blog Posts - Tags: Intraday Funding, Liquidity Management, Reduce Intraday Funding Needs, settlement risk ｜BLOG POST｜LIQUIDITY MANAGEMENT Reduce Intraday Funding Needs with Real-time Insight Within banks, effective business resource management needs a detailed understanding of how financial resources (including cash and securities) are being used by individual business lines and how the combination of those business lines contribute to overall requirements. However, those tasked with improving resource allocations often lack the reliable data that would make a crucial difference to intraday funding decisions. Whilst they can often easily access intelligence relating to historic end-of-day positions, for example the value and composition of the firm’s collateral posted to CCPs at 5pm yesterday, or what their closing nostro balance was, they frequently lack a real-time view of their current funding requirements and what’s driving the internal use of financial resources right now. As a result, the team’s ability to proactively reduce same day funding requirements for the business is extremely limited. But it doesn’t have to be this way. With access to both real-time and historical time-stamped data relating to inflows and outflows, business resource management teams could view current account balances and transactions settled at the counterparty and product level, alongside the original underlying transaction data. They could then use this intelligence to construct and review intraday cash flows at the nostro / currency (or custodian / security) business, legal entity and counterparty level. Baton’s Core-Payments® solution offers firms the opportunity to do exactly that. "They could then use this intelligence to construct and review intraday cash flows at the nostro / currency, business, legal... --- > Discover how our no-code rules provide banks with the flexibility they need to meet their specific requirements. - Published: 2023-11-08 - Modified: 2025-06-25 - URL: https://batonsystems.com/insights/blog-posts/mitigate-payment-system-risk-with-batons-on-demand-rules/ - Categories: Blog Posts - Tags: Mitigate Payment System Risk, mitigating payment risk, payment risk, payment risk management, risk management BLOG POST｜RISK MANAGEMENT Mitigate Payment System Risk with Baton’s On-Demand Rules Continued under-investment in post-trade solutions, combined with the siloed nature of payment systems and disparate operating processes means that financial institutions often rely on manual processes and outdated legacy technology to implement workflow rules. These constraints stifle innovation, perpetuate post-trade inefficiencies, limit transparency and significantly hinder firms struggling with payment system risk – the risk of erroneously sending an outgoing payment. However, it doesn’t have to be this way. The ability to create or modify no-code rules in real-time, using interoperable technology that liberates users from legacy constraints, allows risk, liquidity or operations teams to rapidly respond to evolving situations and centrally control the universe of payments being processed by all systems across the bank. Yes, that’s right – rules that control all payments being executed across all business areas and payment flows simultaneously. Aaron Ayusa, Baton Systems’ Director of Client Success, explains how Baton’s agile approach based on the rapid creation of no-code rules can help firms effectively supervise their business flows in line with their firm’s governance model and introduce controls that: Accelerate the firm’s ability to respond to and mitigate payment system risk Create optimised workflows and Deliver automated end-to-end processing. Rules or preferences are used by firms to provide guidance and standardisation to workflows in the various life cycles of a cash flow. They might include risk management controls such as limits on settlement sizes by product, market or counterparty, requiring additional approvals, the need... --- - Published: 2023-11-02 - Modified: 2023-11-03 - URL: https://batonsystems.com/insights/editorial/fia-expo-2023-baton-systems-ceo-outlines-vision-for-t1-settlement-using-dlt/ - Categories: Editorial Baton's CEO, Arjun Jayaram discusses the changing cross-border payments & collateral management landscape with FinanceFeeds, Nikolai Isayev - how banks can now gain real-time visibility into their funding resources & obligations to optimise #liquidity processes, the power of DLT & the FX settlement impact of T+1. Click here to watch the video --- > Mitigate counterparty risk with real-time reconciliation. Gain visibility, reduce settlement risk, and automate payment controls using Baton's payment technology. - Published: 2023-10-25 - Modified: 2025-06-25 - URL: https://batonsystems.com/insights/blog-posts/counterparty-risk-management-harness-real-time-reconciliations/ - Categories: Blog Posts - Tags: automated workflows, Counterparty Risk Management, mitigating risk, real-time connectivity, Real-time reconciliation, risk mitigation workflows, settlement risk, settlement risk management BLOG POST｜RISK MANAGEMENT Counterparty Risk Management with Real-time Reconciliation In a previous blog post, Aaron Ayusa, Baton Systems’ Director of Client Success, detailed how data obtained from the process of real-time reconciliation can be harnessed to optimise intraday liquidity management. But cash management and operational efficiencies are not the only benefits to be derived from real-time reconciliation. Here, Aaron explains how the process can significantly improve the ability to mitigate counterparty risk and ultimately benefit the business as a whole. Counterparty risk management – that is, the process of identifying, assessing, and mitigating the risk that a counterparty might default on its obligations – is important for several reasons, but primarily because it is a critical part of the process required to control the potential negative impacts of counterparties failing to fulfill their contractual obligations. Settlement risk, the risk that a counterparty fails to deliver against its final obligation, is a key component of counterparty risk and one that is increasingly on the radar of regulators and related stakeholders. The settlement risk management processes of most banks rely on end-of-day account statements as a key source of information for the required reconciliation. This outdated legacy practice generates unnecessary delays and means that the day after Value Date (VD+1) is the earliest that a bank can be sure whether or not a counterparty has met its payment. In practice, it’s not uncommon for all of the key functions within a bank to be unaware for several days, or even weeks, after... --- - Published: 2023-10-06 - Modified: 2023-10-13 - URL: https://batonsystems.com/insights/editorial/collateral-management-3-areas-to-automate/ - Categories: Editorial Alistair Griffiths, Director of EMEA Sales at Baton Systems, provides valuable insights into the challenges that firms encounter when attempting to automate traditionally manual processes in collateral management operations. The article delves into three key areas of collateral management processing that can significantly enhance cost savings and efficiencies: gaining visibility on transaction status, managing inventory, and improving data aggregation. This article emphasises how addressing these areas can justify and optimise technological investments in collateral management. Click here to read the article --- - Published: 2023-10-06 - Modified: 2023-10-13 - URL: https://batonsystems.com/insights/editorial/dont-sweep-bilateral-settlement-risk-under-the-carpet/ - Categories: Editorial The Bank for International Settlements (BIS) analysis of the foreign exchange swaps market, with a focus on CLS currencies, has been widely welcomed in the industry. As of mid-last year, outstanding FX swaps and forwards eligible for CLS settlement totaled $25 trillion, with FX swaps representing over 80% of the market. The report offers a detailed academic assessment of the crucial role played by FX swaps in the daily FX landscape. Click here to read the article --- > Alex Knight, Head of EMEA at Baton Systems, explains how Baton’s Core-Payments™ tracks data in real-time and provides leaders with the tools to supervise and manage risk for their business more effectively. - Published: 2023-10-04 - Modified: 2025-06-23 - URL: https://batonsystems.com/insights/blog-posts/core-payments-for-business-leaders-why-real-time-access-to-payment-data-is-key-to-long-term-business-success/ - Categories: Blog Posts - Tags: Core-Payments, payment reconciliation, real-time data, risk management ｜BLOG POST｜PAYMENTS Core-Payments for Business Leaders: Why Real-time Access to Payment Data is Key to Long-term Business Success Business leaders need easy access to timely, reliable, and complete information across post-trade processes. Aside from the usual requirements of senior managers to optimise for risk, revenues, and costs, they increasingly need to demonstrate to their own management and to regulators that they have the tools to run their business safely and effectively. Alex Knight, Head of EMEA at Baton Systems, explains how Baton’s Core-Payments™ tracks data in real-time and provides leaders with the tools to supervise and manage risk for their business more effectively. Now more than ever, business leaders have an obligation to manage and supervise their business performance and risks effectively. This obligation doesn't stop at the point of execution, but covers the whole lifecycle of a transaction, only concluding with the confirmed payment or receipt of assets. Whilst enormous strides have been made in both technology and processes around price discovery, distribution, and the management of market risk, the processes related to the arrangement, processing, and final reconciliation of payments and receipts remain, to a large degree, in the Dark Ages. Many business leaders have almost no access to information in this increasingly fractured and impenetrable area. Why is this? First, it's often the case that the information in question is difficult for anybody within the organisation to obtain, due to the proliferation of manual processes and legacy, siloed technology. Additionally, a request or instruction to obtain data... --- - Published: 2023-10-04 - Modified: 2023-10-13 - URL: https://batonsystems.com/insights/editorial/baton-systems-launches-automated-settlement-orchestration-platform-3/ - Categories: Editorial Baton Systems unveils Core-Payments, a game-changing digital solution for real-time cash settlements. This innovation reduces manual processes, offers instant reconciliation, and addresses industry standards, giving firms control, visibility, and cost management advantages. With the US transitioning to T+1 settlement, Core-Payments arrives at a pivotal time, ensuring market participants are prepared for heightened settlement risk and regulatory demands while enhancing operational efficiency and customer service. Click here to read the article --- - Published: 2023-10-04 - Modified: 2025-05-06 - URL: https://batonsystems.com/insights/editorial/talking-payments-with-baton-systems-2/ - Categories: Editorial Learn about Baton Systems' Core-Payments, a groundbreaking solution for real-time payments and cash flow control. Alex Knight and Ronn Baker discuss its role in reducing payment failures, improving controls, and its versatility across various business sectors, offering advantages for front-office operations. Click here to watch the video --- - Published: 2023-10-04 - Modified: 2024-12-25 - URL: https://batonsystems.com/insights/editorial/core-payments-for-business-leaders-why-real-time-access-to-payment-data-is-key-to-long%e2%80%91term-business-success/ - Categories: Editorial Alex Knight, Head of Sales and EMEA at Baton Systems, is prominently featured on Risk. net. Alex emphasises the essential requirement for business leaders to have immediate access to payment data to enhance risk management and business oversight. The article explores how Baton's Core-Payments™ platform equips business leaders with the necessary tools to effectively manage risk and streamline post-trade processes in real-time. Click here to read the article --- - Published: 2023-10-03 - Modified: 2023-10-03 - URL: https://batonsystems.com/insights/editorial/wall-street-need-for-speed-in-stocks-reshapes-fx-world/ - Categories: Editorial Baton System's Head of EMEA, Alex Knight is featured in Bloomberg, the article discusses how the impending shift in US equity settlement from T+2 to T+1 is causing challenges in the global foreign exchange market. Foreign investors may need to secure US dollars in advance to ensure timely settlement, potentially leading to longer working hours and staff relocations. The article also highlights calls for technological solutions to streamline settlements. Click here to read the article --- > Baton launches new solution to provide banks with automated, comprehensive, and real-time control of their cash settlements. - Published: 2023-10-01 - Modified: 2025-06-13 - URL: https://batonsystems.com/insights/press-releases/baton-launches-automated-settlement-orchestration-platform/ - Categories: Press Releases - Tags: Baton systems ｜PRESS RELEASE｜PAYMENTS Baton Systems Launches Automated Settlement Orchestration Platform October 02, 2023, London – Baton Systems, the global fintech digitally transforming post-trade processing through distributed ledger technology (DLT), has launched a game-changing digital solution providing firms with automated, comprehensive, and real-time control of their cash settlements. The solution, Core-Payments – which is already being deployed by a tier one bank – leverages Baton’s DLT workflows to automatically track and reconcile inbound cash settlements, and to orchestrate the release of outbound cash payments on the basis of configurable rules and real-time data. Core-Payments significantly reduces the need for manual intervention across key reconciliation and control processes, including netting and pre-settlement affirmation, accelerating the completion of key functions and reducing operational costs whilst increasing control and visibility. Critically, Core-Payments permits users to reconcile inbound and outbound payments in real-time – compared to the industry standard of t+1 or longer. With the shortening of the settlement cycle to T+1 in the US now less than 250 days away, the launch of Core-Payments comes at a pivotal time for market participants, providing them with real-time visibility and greater control of their settlement functions, as well as enhanced cost management and related growth opportunities. In addition, the solution provides continual calculation of counterparty settlement risk exposure, as well as a clear view of current and forecasted funding requirements. Alex Knight, head of EMEA, Baton Systems, said: “With the transition to T+1 now just months away, and with regulators growing increasingly vocal around the need for... --- > Baton wins prestigious “Best FX Settlement Innovation“ award at the Euromoney Foreign Exchange Awards 2023 - Published: 2023-09-29 - Modified: 2025-06-13 - URL: https://batonsystems.com/insights/press-releases/baton-wins-at-euromoney-foreign-exchange-fx-awards-2023/ - Categories: Press Releases - Tags: Baton systems ｜PRESS RELEASE｜FX SETTLEMENTS Baton Systems Triumphs Again, Winning “Best FX Settlement Innovation” at Euromoney Foreign Exchange Awards 2023 London, September 29, 2023 – Baton Systems ("Baton"), the global fintech leader pioneering post-trade processing with distributed ledger technology (DLT), proudly announces its latest industry recognition as it clinches the prestigious "Best FX Settlement Innovation" award at the Euromoney Foreign Exchange Awards 2023. This accolade follows Baton Systems' having previously secured the "Best FX Settlement and Risk Mitigation Solution" at the FX Markets Asia FX Awards 2023. The "Best FX Settlement Innovation" award from Euromoney spotlights Baton's pioneering Core-FX solution. Already live and in production, Core-FX enables wholesale FX market participants to benefit from riskless and on-demand settlements for any currency whilst automating netting and virtually eliminating operational overhead. The entire settlement process is fully transparent and completed within 5 minutes or so, allowing for highly efficient re-use of currency balances intraday. Notably, HSBC and Wells Fargo recently started to use Core-FX to achieve payment-versus-payment (PvP) settlements for offshore deliverable Chinese Renminbi, a groundbreaking achievement in the world of foreign exchange. Since its initial rollout, Core-FX has successfully facilitated the netting and secure settlement of trillions of dollars in FX transactions. This latest recognition further underscores Baton Systems' ability to tackle the complex challenges in the post-trade space, earning the trust of professional market participants. Arjun Jayaram, Founder and CEO of Baton Systems, commented on this prestigious recognition, saying, "We are thrilled to receive the 'Best FX Settlement Innovation' award at the... --- - Published: 2023-09-22 - Modified: 2024-11-26 - URL: https://batonsystems.com/insights/editorial/letter-new-settlement-rules-leave-fx-desks-with-few-options/ - Categories: Editorial Baton System's Head of EMEA, Alex Knight is featured in the Financial Times, sharing insights on how the impact of T+1 extends globally, reaching beyond US Securities markets into FX markets. Read his expert perspective on the evolving financial landscape! Click here to read the article --- - Published: 2023-09-21 - Modified: 2024-12-25 - URL: https://batonsystems.com/insights/editorial/harnessing-the-power-data-to-optimise-intraday-liquidity-management/ - Categories: Editorial Baton Systems' Director of Client Success, Aaron Ayusa's insightful piece on Risk. net about harnessing real-time data for smarter liquidity management. Aaron explains how real-time data can revolutionise decision-making in banking. Predicting counterparties' payment patterns helps banks plan liquidity efficiently, reduce costs, and avoid risks. Click here to read the article --- > Improve bank liquidity management with real-time data. Predict payment obligations, reduce costs, and enhance control. Learn from Baton Systems' Director of Client Success. - Published: 2023-09-14 - Modified: 2025-06-23 - URL: https://batonsystems.com/insights/blog-posts/harnessing-the-power-of-data-to-optimise-intraday-liquidity-management/ - Categories: Blog Posts - Tags: Intraday Liquidity Management, intraday liquidity optimisation, intraday liquidity risk, Liquidity Management, payment reconciliation, Real-time reconciliation BLOG POST｜LIQUIDITY MANAGEMENT Harnessing the Power of Data to Optimise Intraday Liquidity Management When it comes to bank liquidity management, a lack of reliable real-time data has always stood in the way of informed decision-making. Without this data, it’s almost impossible to optimise on an intra-day basis. Once available, this data can also be used to predict confidently when specific counterparties will meet their payment obligations, based on their historic patterns of activity. This creates a pathway to plan liquidity and funding throughout the day, improving control and reducing costs. Aaron Ayusa, Director of Client Success at Baton Systems, explains the benefit of using data derived from real-time reconciliations to optimise intraday liquidity management. The approach of banks to intraday liquidity management has traditionally been a reactive one owing to a shortage of real-time information. Without the visibility that this information can provide, a firm will typically look at all of its projected payments for a given value date for each currency and fund around 20% of that value for each currency, at a specified time within a day. Often, however, the liquidity manager, whose responsibility it is to ensure that all currencies are funded, is unaware of any potential funding problems until they become apparent, typically, close to cut-off. Options at this point are limited. Making a trade with an agent bank using credit lines or overdrawing a nostro account are costly solutions, further exacerbated by today’s high interest rates and the funding shortages that are all too frequent... --- - Published: 2023-09-08 - Modified: 2024-11-26 - URL: https://batonsystems.com/insights/editorial/all-hands-on-deck-as-banks-rush-to-prepare-for-t1/ - Categories: Editorial The countdown to the T+1 settlement revolution has begun, and Baton Systems is at the forefront of this transformation. As featured in a Financial News article, banks are mobilising their resources to prepare for the upcoming shift, and Baton Systems is proud to be a key player in this game-changing evolution. As we move towards this new era of reduced settlement times, we recognise the potential impact on various aspects of the financial industry, including securities lending and the FX market. Baton Systems is already working on innovative solutions to address the challenges presented by T+1. Click here to read the article --- > Alex Knight warns missing CLS cut-off forces risky bilateral settlement, especially without credit lines. - Published: 2023-09-01 - Modified: 2025-06-13 - URL: https://batonsystems.com/insights/editorial/settling-fx-in-a-t1-world/ - Categories: Editorial Alex Knight, the Head of EMEA of Baton Systems, a fintech company focusing on transforming post-trade processing through distributed ledger technology, points out that if managers miss the CLS cut-off or fail to meet it, they will have to settle bilaterally. This situation could potentially lead to a crucial point of failure, especially if the executing desk lacks bilateral credit lines with all the involved funds. This underscores the complexity and challenges faced by investors in this changing landscape. Click here to read the article --- > Discover how Clearing Members can optimise collateral margin under gross and net models with real-time visibility and greater automation - Published: 2023-08-16 - Modified: 2025-06-25 - URL: https://batonsystems.com/insights/blog-posts/maximising-collateral-margin-efficiency-gross-vs-net/ - Categories: Blog Posts - Tags: collateral management, Collateral Margin Efficiency, collateral margin requirements, collateral marginalization, Collateral Optimisation, gross collateral margining, net collateral margining ｜BLOG POST｜COLLATERAL MANAGEMENT Maximising Collateral Margin Efficiency: Gross vs Net Whether gross or net margined, the aim of Clearing Members is to optimise collateral usage at central counterparties (CCPs), reduce risk and efficiently manage liquidity. Ragu Raymond, who prior to joining Baton was an Optimisation Liquidity Manager for one of the world’s largest clearing firms, discusses the opportunities for optimisation under both gross and net collateral margining and how Baton’s collateral management technology can support the process. With market volatility a feature of recent years, the collateral margin requirements of CCPs have increased significantly, as shown in the table below. “These numbers continue to rise, making collateral optimization increasingly crucial for Clearing Members, regardless of whether they are gross or net margined at CCPs. ” Gross vs. net collateral margining CCPs collect collateral margin for customer accounts on either a gross or a net basis. Under gross collateral margining, typically used by North American and APAC-based CCPs, Clearing Members must deliver to the CCP a margin amount equal to the sum of all the initial margin amounts that would be required for each of the underlying accounts under their membership. Net collateral margining, by contrast, is mainly used in EMEA and means that a Clearing Member’s CCP requirement includes the benefit of any offsetting risk across its portfolio of accounts. A Clearing Member with a large portfolio of client accounts can obtain a netting benefit of more than 50%, leaving a surplus available for optimisation and re-investment, subject to account... --- - Published: 2023-08-12 - Modified: 2023-08-14 - URL: https://batonsystems.com/insights/editorial/t1-testing-begins-from-monday-with-the-dtcc-deeming-it-critical-for-success/ - Categories: Editorial The FX industry faces a major challenge ... t+1 settlement for US and Canadian securities is the first step in an evolution that is going to force change. Using the right solutions in the post-trade space will give firms the choice, security and efficiency that they need. Failure to do so will result in an industry that is hamstrung by legacy operational processes. Alex Knight, Head of EMEA at Baton Systems, shared some of my thoughts in this excellent article in Global Custodian. Click here to read the article --- - Published: 2023-08-11 - Modified: 2023-08-14 - URL: https://batonsystems.com/insights/editorial/opinion-distributed-ledger-tech-has-outgrown-the-sandbox/ - Categories: Editorial In the article, Jerome Kemp, President of Baton Systems, states that "practical and effective applications for DLT are already disrupting capital markets globally, particularly with regards to the tech’s ability to transform the post-trade lifecycle. " He goes on to say that "Baton Systems is a leading provider of DLT solutions for the post-trade industry. The company's platform can be used to improve efficiency, transparency, and settlement risk across a variety of post-trade processes. " Click here to read the article --- - Published: 2023-08-10 - Modified: 2024-11-29 - URL: https://batonsystems.com/insights/editorial/global-banks-advancing-to-go-live-on-finteum-platform/ - Categories: Editorial The article discusses how global banks are progressing towards going live on the Finteum Platform, a new platform that offers a single view of liquidity and risk across multiple markets. The platform is expected to help banks improve their liquidity management and risk mitigation capabilities. Baton Systems is a leading provider of post-trade solutions that can help banks prepare for the go-live of the Finteum Platform. The company's Baton Core-FX solution offers a fast, secure, and automated way to settle FX trades on a PvP basis, which can help banks reduce settlement risk and meet the demands of a shorter settlement cycle. Click here to read the article --- > Learn how distributed ledger technology (DLT) enables banks to improve intraday liquidity with real-time visibility, automation, and smarter fund transfers. - Published: 2023-08-02 - Modified: 2025-06-25 - URL: https://batonsystems.com/insights/blog-posts/how-dlt-supports-better-intraday-liquidity-management-for-banks-and-their-customers/ - Categories: Blog Posts - Tags: Distributed Ledger Technology, DLT, Intraday Liquidity, Intraday Liquidity Management, intraday liquidity risk, Liquidity Management, managing intraday liquidity, payment reconciliation ｜BLOG POST｜LIQUIDITY MANAGEMENT How DLT Supports Better Intraday Liquidity Management for Banks and their Customers Most large organisations, including the major banks, operate across a number of distinct legal entities, each with its own designated bank accounts. However, fund transfers between entities are often time-consuming, hard to synchronise, and expensive. Alex Knight, Baton Systems’ Head of EMEA, explains how, by using distributed ledger technology (DLT), firms can improve their use of intraday liquidity and achieve real-time visibility and control over the movement of funds between their affiliates and externally, as well as reducing operational and third-party costs. The process of managing liquidity on an intraday basis is highly complex: the movement of assets frequently involves extended ‘hops’ in a chain and relies on legacy, often batch-based, technology, without the benefit of perfect information. Processing via a range of batch-based, legacy server-based ledger systems, creates challenges in terms of visibility and the ability of firms to respond. Today’s markets have operating hours with hard cutoffs, but they also have periods where liquidity is available and periods where it isn’t. Organisations are reliant on their agent banks (be they internal or external) to process payments in a timely manner. Without the benefit of detailed historic analytics, it’s generally not possible to anticipate with any degree of confidence when external parties will meet their payment obligations to fund the appropriate account and to predict what the balances will be at any given point during the day. In fact, for many organisations it’s even... --- - Published: 2023-07-22 - Modified: 2023-08-10 - URL: https://batonsystems.com/insights/editorial/driving-business-success-the-importance-of-post-trade-operations-for-front-office-excellence/ - Categories: Editorial Alex Knight, Head of EMEA at Baton Systems, emphasises the impact of streamlined post-trade processes on revenue, costs, market access, and customer service. Baton Systems stands out as a leader, offering safe, automated settlement solutions, including netting and PvP settlement, driving success for FX businesses amidst upcoming changes in settlement cycles. Click here to read the article --- > Discover how distributed ledger technology (DLT) enables faster and safer on-demand settlements with complete transparency. - Published: 2023-07-20 - Modified: 2025-06-25 - URL: https://batonsystems.com/insights/blog-posts/addressing-the-challenges-of-t1-with-distributed-ledger-technology/ - Categories: Blog Posts - Tags: Distributed Ledger Technology, DLT, FX, FX settlement, Post Trade, PvP Settlement, settlement, T+1, T+2 ｜BLOG POST ｜FX POST-TRADE Addressing the Challenges of T+1 with Distributed Ledger Technology Alex Knight, Head of EMEA at Baton Systems, explains how the use of distributed ledger technology (DLT) in post-trade processing can pave the way to a smooth transition to T+1 settlement and beyond. From May 2024, the US securities settlement process will move from a two-day settlement cycle (T+2), to settle one day after trading (T+1). There are indications that the UK and Europe will also move to a shorter settlement cycle in the not-too-distant future. Although FX doesn’t fall under T+1, firms trading in US securities from overseas will need to factor in time for FX settlement to ensure they have the cash to settle their securities transactions. The change, therefore, will present challenges to all market participants, with significant modifications needing to be made to infrastructure, systems, and processes in order for firms to achieve a smooth transition to T+1. While it’s been said that the move will reduce the available post-trade processing time by 50%, further research has suggested that the reduction will in fact be over 80%, with many processes needing to take place on trade date itself. The challenges... The final fills for securities transactions in North American markets will not be available until after the New York close on trade date. Allowing for the time differences, this is already the morning of the settlement date for firms based in Asia, and the middle of the night for firms in Europe. Consequently,... --- - Published: 2023-07-12 - Modified: 2023-07-12 - URL: https://batonsystems.com/insights/editorial/us-settlement-revamp-creates-new-risks-in-us65trn-fx-market/ - Categories: Editorial The US settlement revamp, which will shorten the settlement cycle for US securities, is creating new risks in the US$6. 5 trillion FX market. The shift to a one-day settlement deadline poses challenges for overseas investors, reducing the time available to complete currency trades used to fund their purchases of US securities. Baton Systems, a post-trade firm, offers a solution to streamline FX execution and mitigate settlement risk. They utilise distributed ledger technology to net and settle FX trades for investors who miss their window to do so in CLS, providing an alternative to outsourcing FX execution to custodian banks. Click here to read the article --- - Published: 2023-07-12 - Modified: 2023-08-10 - URL: https://batonsystems.com/insights/editorial/transforming-the-way-we-move-money-in-the-digital-era-with-the-automated-clearing-house/ - Categories: Editorial Baton Systems is thrilled to be featured in this article about the future of clearing houses and how the Automated Clearing House (ACH) is revolutionising the way we move money in the digital era. The article delves into the ways in which clearing houses are embracing technological advancements to streamline and automate clearing processes. Baton Systems stands out as one of the startups highlighted in the article, providing a modern, cloud-based platform for real-time clearing and settlement of financial transactions. Click here to read the article --- - Published: 2023-07-11 - Modified: 2023-07-12 - URL: https://batonsystems.com/insights/editorial/dlt-is-promising-for-fx-settlement-but-not-without-challenges/ - Categories: Editorial The article discusses the potential of distributed ledger technology (DLT) to reduce settlement risk in FX markets. While there have been a number of projects exploring this possibility, only one is currently live: Baton Systems' Core FX DLT, which is used by HSBC's FX Everywhere platform. Alex Knight, the Head of EMEA at Baton Systems, believes that DLT-based solutions are a promising way to enable riskless settlement in a broad range of currencies. He notes that more and more financial institutions are adopting these solutions to manage settlement exposure across a wider range of currencies. Click here to read the article --- > Explore how DLT is transforming post-trade operations—reducing risk, improving liquidity, and replacing legacy systems with real-time, secure settlements. - Published: 2023-07-05 - Modified: 2025-06-25 - URL: https://batonsystems.com/insights/blog-posts/the-future-of-post-trade-dlt-embracing-new-technology/ - Categories: Blog Posts - Tags: Distributed Ledger Technology, DLT, Post Trade, Post-trade Processing, post-trade technology processes, Technology ｜BLOG POST｜TECHNOLOGY The Future of Post-Trade DLT: Embracing New Technology Jerome Kemp, President at Baton Systems, explains how the use of distributed ledger technology (DLT) can enhance post-trade processes. By embracing this technology, market participants can achieve dramatically higher levels of efficiency and transparency, reducing settlement risk and optimising the way in which firms manage funding and liquidity. When evaluating the post-trade technologies used to redefine efficiency, transparency, and risk management, the term ‘blockchain’ has become a catch-all, conflating all new network technology that leverages some form of immediate and immutable data syndication. A blockchain is a permissioned, private, or public network operating in the absence of a central authority. Data, whose immutability is determined by an algorithmically generated electronic signature, is distributed instantaneously and simultaneously to all participating nodes on the network. Initially, financial markets were excited by the possibilities that blockchain could offer. For a number of reasons, blockchain as the basis of a scalable framework in the post-trade space is challenged. Blockchain in this context has been associated with inconclusive initiatives causing regulators, legislators, and financial institutions themselves to take a very restrictive view of this technology. While Blockchain heralded a radical step forward for markets, this is coming to a close and the industry finds itself in a period of reassessment. Differentiating Blockchain from DLT ‘Blockchain’, however, is just one expression of a broader generation of emergent network technologies, namely distributed ledgers. It is only recently that differentiation between blockchain and distributed ledger technology (DLT) has... --- - Published: 2023-06-29 - Modified: 2023-07-04 - URL: https://batonsystems.com/insights/editorial/t1-sets-up-headache-for-cross-currency-trades/ - Categories: Editorial The article discusses the challenges and potential risks associated with the shorter settlement cycle (T+1) for securities trades. While the focus has mainly been on the impact on equity trades, the article highlights the currency conversion aspect that has received less attention. Alex Knight, Head of Sales and EMEA at Baton Systems, emphasises the need for traders outside the US to factor in time for FX settlement when trading US securities. The article mentions the concerns raised by the Global Financial Markets Association regarding the potential delays in transaction funding due to the accelerated settlement cycle. Click here to read the article --- - Published: 2023-06-28 - Modified: 2023-07-04 - URL: https://batonsystems.com/insights/editorial/buy-siders-to-face-rising-settlement-risks-when-2-becomes-1/ - Categories: Editorial As the FX market prepares to move from a T+2 settlement cycle to T+1, buy-side firms are facing increasing concerns about settlement risk. Alex Knight, Head of Global Sales and EMEA at Baton Systems, says that Baton’s Core-FX service can help buy-side firms to mitigate settlement risk by providing a secure and transparent way to track and settle trades in real-time. "With Core-FX, there is no cut-off window," Knight said. Instead, users can see when they have hit a given risk threshold of bilateral netted trades and then initiate settlement within three minutes. Click here to read the article --- > Jerome Kemp discusses how FCMs can overcome margining challenges, optimize cash/non-cash mix, and leverage high interest rates for revenue opportunities. - Published: 2023-06-25 - Modified: 2025-06-13 - URL: https://batonsystems.com/insights/editorial/derivatives-traders-are-backing-future-interest-rate-driven-growth-as-bofe-hikes-rates-to-highest-level-in-15-years/ - Categories: Editorial Jerome Kemp, President at Baton Systems, highlights the revenue opportunities brought by interest rates while acknowledging the operational challenges related to margining processes. FCMs need to optimise their cash and non-cash mix to meet margin requirements across CCP memberships and address issues like manual processes and limited data visibility that hinder economically intelligent decisions. Click here to read the article --- - Published: 2023-06-24 - Modified: 2023-07-04 - URL: https://batonsystems.com/insights/editorial/acuiti-and-ion-publish-fcm-research-2/ - Categories: Editorial A research report by Acuiti, in partnership with ION, highlights that almost two-thirds of futures commission merchants (FCMs) expect to increase the number of clearing houses they work within the next three years. The report, titled "The Growing Opportunity in Derivatives Clearing," explores the impact of rising interest rates on FCM competition and the potential for revenue growth. Jerome Kemp, president of Baton Systems, emphasises the need for FCMs to optimise the mix of cash and non-cash collateral to meet margin requirements efficiently and address operational challenges posed by higher interest rates. Click here to read the article --- - Published: 2023-06-23 - Modified: 2025-05-06 - URL: https://batonsystems.com/insights/editorial/time-for-better-tech-as-firms-fail-to-tackle-trade-fails/ - Categories: Editorial The article emphasises the need for technological innovation to address settlement failures in financial markets. Alistair Griffiths, Director of EMEA Sales at Baton Systems, a global fintech company using Distributed Ledger Technology (DLT) for post-trade processing, highlights the high costs and consequences associated with settlement failures. The manual nature of securities processing and limited visibility contribute to the problem. The article suggests leveraging technology, such as straight-through processing (STP) and real-time visibility, to reduce failures. Baton Systems offers solutions to enhance post-trade processes and mitigate settlement failures. Click here to read the article --- > Baton Systems CEO Arjun Jayaram and Colin Lambert discuss the evolving FX settlement landscape, highlighting DLT's increasing role in post-trade transformation and benefits for trading desks. - Published: 2023-06-15 - Modified: 2025-06-13 - URL: https://batonsystems.com/insights/editorial/the-full-fx-unfiltered-with-baton-systems/ - Categories: Editorial Baton Systems’ CEO Arjun Jayaram talks to Colin Lambert about how the FX settlement space is changing and why distributed ledger technology is playing a bigger and bigger role in the transformation. The two also talk about how this evolution benefits the trading desk and is playing out well beyond the institutional settlement space. Click here to watch the video --- ---