FXpress enhances offerings with FIRST Allocate
FXpress Treasury Solutions has recently released FIRST Allocate, an automated hedge request and trade allocation tool.
FXpress Treasury Solutions has recently released FIRST Allocate, an automated hedge request and trade allocation tool. This advanced Web-based technology has created a workflow where remote subsidiaries can request hedges from a centralized trading center. Those requests are consolidated and hedged with a single derivative and the system automatically creates all of the inter-company transactions and properly accounts for each legal entity involved.<br>
Prior to FIRST Allocate, corporate treasurers had to either book a series of derivative transactions, or create complicated spreadsheets to effectively track P&L and accounting results of consolidated foreign currency forecasts, said James Gilbert, FXpress Corporations Director of Business Development.