Money Market

The Money Market Module handles both short-term Taking and placing transactions.

It handles inter-branch Taking and Placing between branches and headquarters. In addition, FOXSNet can handle swap arbitrage deals by transforming FX swap into taking and placing for Money Market desk. This effectively amortizes the swap premium or discount into the two respective currencies, thus creating an asset in one currency while a liability in the other currency. This transformation can consolidate the Money Market positions on an interest rate basis rather than an FX position. All FX positions are maintained in the FX book and managed by the FX dealers.

The module has deal entry, verification, authorization, confirmations and housekeeping. Dealers have access to gap information, P&L, interest accruals, interest payments, credit limits, Nostros balances and expected cash flows

The Money Market module can be linked to SWIFT Alliance interface module and domestic clearing system module for settlement Accounting entries are generated at the end of day run. Deals entered after the cut-off time are not posted on the same day but are registered as night batch deals and posted the next day. Corrections to transactions after GL posting are done through reversals.

Features

•  Counter-party limits control
•  Traders/trading desk limits control
•  P&L monitoring - Daily, Monthly, YTD
•  Nostro management
•  Automatic generation of accounting entries
•  Branch reporting
•  Confirmations
•  Settlement instructions
•  Swift Interface
•  Reuters D2000 Deal Capture Inquiries and Reports
•  Daily Blotter by P&L book and by product
•  Daily Blotter before or after cut-off time
•  Summary of outstanding transactions
•  Outstanding trades by product
•  Money Market Ladder report
•  Profit & Loss (Today, Month and YTD)
•  Interest Accrual and Interest payment reports
•  Credit Limits and availability reports