City Networks Upgrades CityNet Checker with Currency Options
An upgraded version of CityNet Conversation Checker is to be launched by City Networks that will include currency options. ‘The addition of currency options gives [our clients] a greater return on investment for a missed options trade than for FX and money market transactions, due to the greater level of complexity,’ commented Janet Yagle, City Networks Managing Director for North American activities. CityNet Conversation Checker automatically stores, analyses and reconciles dealing error conversations with tickets from Reuters, EBS and online trading systems. Errors such as missed trades can be highlighted and non-trade related conversations can be managed automatically, allowing users to concentrate on exceptions, according to City Networks. Previously, automation covered foreign exchange (FX), FX swaps money market and call deposits. City Networks will start with the addition of vanilla currency options and plans to expand to more complicated instruments such as exotic options and interest rate swaps.