NEX Group plc has launched PIVOT, a new cash and collateral movement workflow tool which enables clients to make cash movements and money market sweeps.
Through the partnership between NEX Optimisation and NEX Markets, PIVOT connects the ENSO Core platform with NEX Treasury, a cash and FX liquidity management centre for the corporate and bank community. The new service helps buy-side institutions act on cash insights identified within ENSO Core, an award-winning treasury, counterparty risk and portfolio financing workflow platform, to help clients make timely decisions to optimise their overall counterparty relationships.
This new partnership is a step towards establishing heightened client workflow, leading to a point-click-and-execute model. NEX Optimisation continues to invest in its ‘Optimisation Algorithm’ which helps clients identify opportunities and allocate on a pre-trade basis – providing clients with a one stop shop for treasury optimisation.
By using PIVOT, hedge funds can execute cash payments directly through the portal for margin management, manage third party relationships, and invest excess cash in money market funds.
This new service provides a straight-through-processing (STP) connection through the secure SWIFT network, for single or multiple cash transfers to all the major banks and broker-dealers based on predefined payment instructions and mapping criteria. In early 2018, PIVOT will support the capability to instruct security transfers.
Jenny Knott, CEO of NEX Optimisation, said: “Our established multilateral networks and subject matter expertise across NEX Optimisation enables us to provide a suite of services to our clients to optimise their financial resources, reduce their costs, simplify their workflows while giving them confidence in their own data. PIVOT is an integral part of our objective to streamline increasingly complex processes for our clients.”
Matthew Bernard, CEO of ENSO, said: “In launching PIVOT we have realised the power of the NEX portfolio of businesses, and have built a new solution for our buyside clients that provides support for cash and collateral management, and treasury and portfolio finance functions.”
Justin Meadows, CEO of NEX Treasury, said: “In partnership with NEX Optimisation we have now extended this tried and tested capability to provide clients with a secure, reliable and convenient way to automate the substantial cash collateral management workload many of them face every day.”