“As we look to grow our global presence, not only in emerging markets but also in more established markets, IntelliMatch Operational Control will play a key role in supporting EXNESS’ ongoing expansion and rising transaction volumes…” said John Taylor, the CFO of EXNESS Singapore.
EXNESS is an international foreign exchange broker that has headquarters in Cyprus and operates worldwide (with an office in Singapore and other parts of the world). The company has grown continually over the years since it has been established in 2008. During the 2nd quarter of 2015, their trading volumes have increased by $111 billion, exceeding $660 billion in total.
IntelliMatch Operational Control Solution
EXNESS implemented the IntelliMatch Operation Control solution by SunGard. It is designed to meet their new requirements in compliance and reconciliation, as well as to manage their rapid growth in volume. This highly advanced solution will be able to give critical back-office support for EXNESS as they continue to expand worldwide.
According to CFO John Taylor, the company chose to work with SunGard because its solution offers advanced capabilities. Aside from that, they have a proven track record and are widely known for establishing reconciliation best practices for the top financial institutions worldwide.
What the Solution Gives?
- It provides EXNESS with high degree automation, multi-asset-class capabilities, as well as scalable infrastructure.
- It encourages the broker to support growth, not only in terms of volume but also in the quality of the products that they can offer and control.
- It helps to manage the transactional risks better.
- It helps to achieve regulatory compliance in a global scale.
Currently, the solution is being set up initially to help reconcile the internal records of EXNESS with those of their various payment service providers. It will meet the key requirement of the brokers to support the client money segregation as well.