e-Forex-Nov-23

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Corporate treasury automation: How technology is solving pressing needs “Automation not only improves productivity but also delivers accuracy in an area where compliance is paramount.” to morph into a “Whole of Treasury” decision support framework with multi-product execution capabilities.” SPECIAL REPORT Bob Stark flows that drive FX trades can lead to incremental services and decision support tools,” he says. “Banks have previously been unable to deliver these due to the vanilla data that has historically accompanied trade instructions.” He goes on to illustrate an example. “We are working on solutions for banks to deliver to clients that enable rules to be configured by a Corporate Treasurer,” he says. “They can automatically calculate and adjust a net hedge position, complete cash flow forecasts based on real data, and then automatically sweep excess balances back to base currencies or into money market instruments.” Honkanen believes automation’s timesaving benefits are obvious, but not readily apparent. “Whenever there is any recurring task that is taking people’s time,” he says, “or whenever they think something should be more systematic, if it just didn’t take so much time, it is wise to investigate how the automation solutions could help.” While time savings are an obvious benefit, Honkanen explains they extend further. “The benefits are twofold,” he says. “Either reduced costs via improved liquidity and risk management, or the ability to focus on more value-added and strategic themes when operations are more efficient.” van Daatselaar opines that automation can change the nature of the corporate FX portal. “FX risk management and funding are a small proportion of the challenges a Corporate Treasurer needs to handle,” he says. “We are convinced that the FX portal used by clients will begin EXTENDING AUTOMATION Corporate treasurers currently have a good idea of which processes stand to benefit from automation. But are there any underrated workflows that deserve more automation? Kyriba’s Stark believes so. “FX exposure management, especially quantifying the impact of currency on the balance sheet, is an area most treasury teams can improve upon,” he says. “Organisations generally do a good job with their cash flow hedges, typically struggling only with the estimation of future cash flows so they can be as effective as possible with their hedging.” “Yet,” he continues, “balance sheets are a completely different process requiring a separate data strategy and unique tools to extract, organise, and quantify exposures within balance sheet accounts. This allows treasurers to make more informed decisions about natural hedges that can be leveraged and derivative positions that can mitigate remaining exposures and reduce value at risk.” van Daatselaar doesn’t label any specific workflows when asked, believing treasurers must approach the question from a risk perspective. “It’s the management or orchestration of data that drives the decision-making where Corporate Treasurers and banks need to start,” he says, “before taking advantage of readily available electronic execution capabilities.” With volatility increasing worldwide, treasurers need automation more than ever “Taking control of how data is collected across an organisation,” he continues, “processing it so that balance shortfalls and exposure to currency volatility are as close to real-time as possible, then taking the 60 NOVEMBER 20<strong>23</strong> e-FOREX
Optimizing efficiency in post-trade processes In the new T+1 securities settlement era, achieving execution and operational efficiency in post-trade processes will be paramount for FX market participants. + CLSMarketData Market participants can improve their understanding of market liquidity and risk positions through CLS’s comprehensive suite of data products – comprising the largest single source of aggregated FX executed data available to the market. + CLSTradeMonitor Asset managers and funds can achieve near real-time visibility of CLSSettlement instructions across their custodians and executing brokers, allowing for swift identification and resolution of exceptions. + CLSNet For instructions that do not meet CLS’s 00:00 CET deadline, CLS’s automated bilateral netting calculation service can help market participants to reduce their funding requirements and payment instructions and to enhance operational efficiencies. Find out more: cls-group.com NOVEMBER 20<strong>23</strong> e-FOREX 61
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Welcome to e-FOREX transforming glo
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Page 41 and 42: THE e-FOREX INTERVIEW Eric, you hav
Page 43 and 44: THE e-FOREX INTERVIEW Fred Allatt (
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