NEX Optimisation Rolls Out New Automation Settlement Service for OTC FX

[kreslik.news]

NEX Optimisation has implemented out a new settlement service for over-the-counter (OTC) FX, helping better facilitate and streamline bilateral settlement netting processes for market participants. The launch will mark one of the industry’s first instances of a fully automated Settlement Netting Service, initially targeting OTC FX as well as additional asset classes moving forward.

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The new service will help address the lingering issue of settlement failure rates. While only estimated at nearly 3 percent, these do amount to nearly $1.5 billion on a daily basis. However, the deployment of an API to simultaneously communicate ... (read more)