FXpress Corp.

FXpress Corp., a treasury software provider, has announced the release of FIRST S7, the latest version of the company's Web-based treasury solution for corporations worldwide. FIRST S7 enhancements benefit users through increased hedge accounting validation, using regression analysis. FIRST users also have the ability to consolidate cash and bank account positions, along with increased functionality related to foreign exchange, cash, debt and investment transactions, the Bala Cynwyd, Pa.-based company said in an announcement.

The availability of regression analysis in FIRST S7 enables users to validate and justify hedging programs with a greater degree of certainty. Hedge effectiveness can also be tested and measured against a hypothetical derivative.

FIRST simplifies the complexities of regression and statistical analysis using a series of straightforward options to assist users in setting up a valid effectiveness test. Specific rules may be set up for each hedging program or type of derivative, which allows for the flexibility to keep up with new hedging strategies and evolving auditor interpretations. Additional S7 enhancements include foundational cash management functionality, added flexibility when managing foreign exchange trade requests across subsidiaries and managing lines of credit. The specific features are as follows:

Cash Management -- Both operational and financial cash transactions (receipts, disbursements and/or bank-to-bank transfers) can be entered directly into FIRST. These are integrated into a common repository for consolidated cash positioning, reconciliation and reporting functions.

Foreign Exchange Trade Requests -- Central treasury may review and net contract requests together across subsidiaries within the same currency pair, to execute one trade. This enhancement ensures the accuracy and integrity of transactions prior to contract execution. This functionality results in operational efficiencies through a reduction of the number of transactions and improved cash forecasting.

Intercompany & Managed Lines of Credit -- In addition to supporting short-term borrowing activity via the existing lines of credit (LOC) function, users can now manage both short-term and structured line-of-credit borrowings for inter-company lending and borrowing via the enhanced line-of-credit facilities.

Web: www.fxpress.com.

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