Reuters Supports TWIST Corporate Treasury Standard.LONDON -- Reuters (LSE LSE - Language Sensitive Editor :RTR RTR Ready To Run RTR Rundfunk & Telekom Regulierungs Gmbh RTR Rotor RTR Radio e Televisiun Rumantscha (Romansh Radio and Television, Switzerland) RTR Response Time Reporter RTR Ready To Race RTR Ready to Roll )(NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :RTRSY) announced plans to work with TWIST, the not-for-profit industry group delivering standards in financial processes to corporates, to help corporate treasurers improve their straight through processing In financial technology, the ability to process a stock transaction by computer from beginning to end without manual intervention at any of the stages. . This move supports Reuters aims to provide the treasury community with efficient settlement and straight through processing of foreign exchange and money market transactions. Reuters will develop a TWIST interface, fine tuning Fine Tuning is the name of XM Satellite Radio's eclectic music channel. The program director for Fine Tuning is Ben Smith. The channel is described as "A musical oasis for the sophisticated listener culled from every imaginable genre and country. it with customers for its recently launched Reuters Trading for Foreign Exchange (RTFX RTFX Real Time Effects ) service. This will enable organisations trading on RTFX to receive real-time post trade notifications directly into their internal trade processing systems, avoiding the costs and errors associated with less integrated trade capture methods. Mark Robson, Head of Reuters Treasury and Fixed Income services, said: "Reuters is collaborating with TWIST to bring the financial markets more efficient transaction processing by adopting a standard developed to meet the specific needs of the corporate treasury community. We look forward to extending the same benefits of lower transaction costs Transaction Costs Costs incurred when buying or selling securities. These include brokers' commissions and spreads (the difference between the price the dealer paid for a security and the price they can sell it). and reduced errors to the corporate treasury professionals as enjoyed by the inter-bank market today." To meet the needs of its full range of customers, Reuters will continue to use its internal data model to store and represent completed trades executed on its various trading platforms. To meet the needs of corporate treasury professionals, Reuters plans to convert completed trade notifications into the widely known TWIST standard and offer TWIST as one of the standard formats used within post trade STP STP or standard temperature and pressure, standard conditions for measurement of the properties of matter. The standard temperature is the freezing point of pure water, 0°C; or 273.15°K;. workflows. Initially, the implementation will provide completed trade affirmations (using the TWIST protocol) from the RTFX platform. Tom Buschman, Chairman of TWIST, said: "TWIST's non-proprietary XML-based standards cover three key, interlinked financial processes: wholesale financial market transaction processing, commercial payments/collections, working capital finance and cash management. Our interest is in facilitating innovation in the market through publishing standards which break down existing barriers to straight through processing. We are, therefore, keenly interested in not just the standards development, but also in their practical implementation. Reuters support for TWIST in their RTFX initiative helps enable the interoperability that corporate treasuries are demanding in order to gain the efficiencies of STP that standardization brings." Reuters has the largest foreign exchange community with roughly 112,000 foreign exchange professionals across 125 countries relying on the company's news and information. Reuters Dealing 3000 platform is used by nearly 18,000 FX and money market professionals across 4,000 organizations to trade FX spot, forwards, options and futures, plus interest rate and overnight index swaps Overnight Index Swap An interest rate swap involving the overnight rate being exchanged for some fixed interest rate. Notes: Generally short-term, the interest of the overnight rate portion of the swap is compounded and paid at maturity. . Note to Editors: Reuters (www.reuters.com), the global information company, provides indispensable information tailored for professionals in the financial services, media and corporate markets. Its trusted information drives decision making across the globe based on a reputation for speed, accuracy and independence. Reuters has 14,500 staff in 91 countries. This includes 2,300 editorial staff in 196 bureaux serving 129 countries, making Reuters the world's largest international multimedia news agency. In 2004, Reuters Group revenues were GBP GBP In currencies, this is the abbreviation for the British Pound. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 2.9 billion. Reuters and the sphere logo are the trademarks of the Reuters group of companies. |
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