Baton Systems Joins U.S. Faster Payments Council

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Fremont, CA; May 20, 2020 -- Baton Systems (“Baton”), a provider of post-trade solutions for capital markets, today announced it has joined the U.S. Faster Payments Council (FPC), an organization devoted to advancing faster payments in the United States. As a member of the FPC, Baton will act as a voting member in the Technology Providers segment on inclusive and collaborative approaches to issues that stand in the way of achieving faster payments.

Historically, institutional payments have been hindered by lengthy payments and settlement processing times and legacy systems. Baton is working with banks and systemically important payments hubs to accelerate the movement of assets between counterparties through a rules-driven engine. Baton enables on-demand settlement and payments – in minutes instead of days, regardless of currency or asset class. With multiple top ten global banks and large central counterparties fully deployed and live, Baton’s platform settles over $13 billion per day.

“The FPC is a unique organization that encourages a diverse range of perspectives from all stakeholders in the U.S. payment system to resolve the issues that inhibit broad adoption of faster payments,” said FPC Executive Director Reed Luhtanen. “We are excited to have Baton onboard and to benefit from their expertise in accelerating payments in the world’s largest financial markets.”

 

“Baton’s mission is to solve disparities between fragmented banking systems and reduce the burden of capital and operational inefficiencies that slow payments,” said Arjun Jayaram, CEO and Founder of Baton. “We are looking forward to collaborating with our fellow FPC members and sharing our insights, with the common goal of driving the adoption of faster payment solutions.”

In addition to accelerating institutional payments, Baton’s automated solutions help address the challenges of reducing settlement risk and increasing liquidity. Baton currently has offices in Fremont, CA, New York, London, and India, with future plans to expand into Singapore.

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About Baton

Baton Systems is reforming how payments are made in the world’s largest financial markets. By delivering on-demand synchronization and orchestration of asset movements through its distributed ledger-based platform, it is liberating balance sheets and eliminating the need for capital-intensive pre-funding of FX and margin requirements. Founded in 2016 by technology, payments and capital markets veterans, and backed by venture capital, Baton Systems works with numerous market participants – including major global banks, custodian banks and exchanges – to meet today’s demands for capital efficiency, regulatory compliance and operational superiority. Find out more at www.batonsystems.com

About the U.S. Faster Payments Council (FPC)

The FPC is an industry-led membership organization whose mission is to facilitate a world-class payment system where Americans can safely and securely pay anyone, anywhere, at any time and with near-immediate funds availability. By design, the FPC encourages a diverse range of perspectives and is open to all stakeholders in the U.S. payment system. Guided by principles of fairness, inclusiveness, flexibility, and transparency, the FPC uses collaborative, problem-solving approaches to resolve the issues that are inhibiting broad faster payments adoption in this country. For more information, please visit FasterPaymentsCouncil.org.

Media Contact:
Zain Abouseido
Paragon Public Relations
+1-646-558-6226
[email protected]

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FIA Tech Selects Baton Systems to Streamline Futures Brokerage Payments

Fremont, CA; March 03, 2020 – FIA Tech, a leading provider of financial technology solutions for the futures industry, has selected Baton Systems (“Baton”), a provider of post-trade solutions for capital markets, to accelerate brokerage payments and shorten the settlement cycle for FIA Tech’s customers, which will benefit from faster time to revenue.

Historically, futures brokers have been burdened by long collection periods, increased costs and write-offs with disparate and error-prone processes across the global network of futures exchanges, clearing and executing brokers. Over the past four years, FIA Tech and customers have addressed many of these challenges with the Atlantis brokerage platform, which today processes brokerage for 46 global firms in 17 currencies.

The results have been faster and more accurate brokerage invoicing; however, Atlantis relies on traditional payments technologies, meaning that final payments are exchanged 25-50 days from trades being executed. Integrating Baton’s technology will now allow the industry to accelerate payments with faster and more frequent settlement cycles. To achieve these benefits for the industry, Baton will integrate into FIA Tech’s Atlantis platform via secure APIs and ultimately provide FIA Tech and users of Atlantis improved transparency into the payment process.

“FIA Tech’s initiatives have greatly benefited the futures market and progressed the entire brokerage process from documentation through invoicing and reconciliations,” said Andres Choussy, President and COO of Baton Systems. “Baton was selected to take this even further with our technology, which is helping to fully automate the movement of assets across the financial system.”

“While Atlantis has brought brokerage processing into a continuous and highly automated operation for our customers, the final settlement and payment processes were lagging the new speed of the industry and subject to exceptions and breaks,” said Nick Solinger, President and CEO of FIA Tech. “Working with Baton allows us to easily and seamlessly accelerate payments with precision and greater controls across our network of participants. We are very excited to launch this collaboration with Baton.”

Longer-term, the collaboration will enable FIA Tech customers to monitor completed payment cycles, payments in progress, or scheduled payments using the combined solution. This will also allow for more robust exception handling in case of failed payments.

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About Baton
Baton Systems is reforming how payments are made in the world’s largest financial markets. By delivering on-demand synchronization and orchestration of asset movements through its distributed ledger-based platform, it is liberating balance sheets and eliminating the need for capital-intensive pre-funding of FX and margin requirements. Founded in 2016 by technology, payments and capital markets veterans, and backed by venture capital, Baton Systems works with numerous market participants – including major global banks, custodian banks and exchanges – to meet today’s demands for capital efficiency, regulatory compliance and operational superiority. Find out more at www.batonsystems.com.

About FIA Tech
FIA Tech collaborates with the global futures industry to develop technology solutions which improve operational efficiency and reduce costs. Serving over 8,000 customers and subscribers, FIA Tech provides key central services and processes including managing legal agreements, settling brokerage, meeting compliance requirements, standardizing reference data and automating reconciliations. FIA Tech provides our industry solutions using our scalable Accelerate platform which connects the world’s leading exchanges, regulators, clearing firms and clients to seamlessly collaborate. FIA Tech is a wholly-owned subsidiary of FIA. For more information, please visit www.fia-tech.com

Baton Media Contact:
Zain Abouseido
Paragon Public Relations
+1-646-558-6226
[email protected]

FIA Tech Media Contact:
Andrew La Manna
VP, Head of Business Development
+1 (202) 772-3089
[email protected]


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