Our Digital Core and Client Engagement solutions help Eurex offer 24/7/365 trading and improve profitability by managing their business and risks in real-time.
Segment: Foreign Exchange
Eurex is a provider of FX trading, exchange and other financial services via Online and Bureau de Change channels.
Challenges faced by the business include the differing needs of the two channels; the dynamically changing nature of FX markets and margin pressure from Online competitors.
Union.fx was implemented in the Bureau de Change network with specific cash vault functionality and integrated documents to support front-line staff. Centralised product configuration at Head Office enables special pricing conditions to be applied on a location and client basis, including higher margins at airports and lower fees for VIP clients.
For the Online channel Union.fx is enabled to process spot, forward and swap transactions. Integration with SWIFT allows payments to be executed to a straight through basis.
Market data feeds and real-time reporting allow management to update their margins, currency spreads and risk appetite in a dynamic manner.
In addition to tracking cash and Online positions, the general ledger function supports IFRS compliant accounting of actual and unrealised profit & loss.
By creating a standard approach across the business Eurex have benefit from process efficiencies and management time savings. Operational risk has been reduced in the Bureau de Change network while real-time data supports improved decision making at Head Office.
Eurex have also implemented Union.digital Internet Bank to allow their clients to check balances, message and trade 24/7/365. Eurex in turn provide market updates and personalised offers. Through this new capability Eurex have created deeper client relationships by offering access to deals, at any time in a user friendly manner. Digital enablement makes the offering cost effective, easy to adapt and add new products.
For further information on the transaction please contact us.