Treasury Technology
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A New Generation of Multi-Product Online Dealing Platforms

Q&A with Justin Meadows, CEO and co-founder, MyTreasury

What demands are you seeing amongst treasurers in the development of online dealing capabilities?

Justin MeadowsAs the use of electronic trading platforms continues to grow rapidly, treasurers are increasingly demanding multi-product platforms. Some existing FX trading platforms are responding to this demand by expanding the range of the products they support to include some money market instruments, but the scope of these developments is currently limited. At MyTreasury, we have taken a more comprehensive approach, leveraging the wider ICAP family of solutions to provide electronic, fully disclosed trading for FX, MMFs, deposits and ultimately a comprehensive range of money market and securities instruments to our customers. This involves connecting two of our well-established, proven solutions, EBS Direct and MyTreasury, to create a newly enhanced MyTreasury platform.

What benefits does MyTreasury offer for online FX dealing that differ from existing solutions?

By leveraging existing, successful solutions, rather than developing capabilities for a new asset class ‘from scratch’, bank relationships and contracts are all in place, enabling customers to deal with their existing panel of counterparties in most tradable currency pairs (over 30 initially with more to follow). Furthermore, customers benefit not only from front-office dealing capabilities but full back-office integration for all supported instruments, including connecting into existing ERP or TMS. We are also integrating FX confirmation and EMIR reporting capabilities into MyTreasury through our sister product, Traiana. Traiana provides more than 500 of the world’s leading global banks, broker/dealers and buy-side firms with solutions to automate post-trade processing of financial transactions to become the market standard for post-trade FX processing.

What do you anticipate the impact on MyTreasury’s customer base will be?

There are a large number of corporations that have not become acquainted with MyTreasury so far, as they do not have surplus cash to require MMF dealing capabilities. A far wider spectrum of organisations, however, need to conduct FX for transactional and risk management purposes. By using MyTreasury, these corporations benefit from multi-bank, real-time price discovery and post-trade processing at no cost, but they also have access to our auto-settlement capabilities. This means that MT101 messages to settle trades can be created automatically within MyTreasury and transmitted to the relevant bank without manual intervention, or to an ERP or TMS. This functionality benefits customers of all sizes, but particularly those that do not have a TMS in place and therefore may otherwise be re-inputting settlement details into an electronic banking system.

What response have you received from customers so far?

The newly enriched MyTreasury solution has been warmly welcomed by pilot buy-side customers of all sizes and levels of sophistication, but also by sell-side banks and financial institutions. In particular, they welcome MyTreasury’s competitive pricing (with no cost to buy-side users) and access to a large, high quality counterparty base. Furthermore, they recognise the benefit of integrating existing, best-in-class solutions to create a powerful, yet cost-effective end-to-end trading platform across the instrument types that treasurers need to manage their cash and risk effectively.