360T and RCP Offer New Post-trade Settlement Service
FX industry specialist RCP and 360T, a provider of web-based trading technology for over-the-counter (OTC) instruments, have launched a new service for 360T’s clients, offering RCP’s solutions in conjunction with B2Hub. This will help reduce post-trade settlement issues for financial institutions and allow 360T’s clients, including corporates, market-maker banks and institutions, to receive electronic trade confirmations from multiple trading venues via a single connection, in a user-specified format so that, irrespective of which venue they deal with, the confirmations are formatted at the hub to match the input requirements for the client’s back office systems.
The other benefit this will offer to 360T’s clients is RCP’s bi-directional facility allowing them to receive other straight-through processing (STP) post-trade services from 360T.
Paul Burgess, head of strategy at RCP, said: “We now have the ability to provide rapid, cost-effective solutions to any bank’s internal and external STP and messaging requirements.”