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The Challenge
Several Indian banks use conventional communication channels to
receive quotes and confirm transactions with dealing rooms across
branches. There is no common system that provides a connectivity
mechanism for different foreign exchange transaction processes.
The Solution
eTSY is a portal with immense capabilities. It combines powerful
news feeds from Reuters and smart solutions for corporate and banking
functions like BFx, FoXE and iDeal. Built on a TIBCO backbone, it
is truly a one-stop solution that allows the corporate treasurer
to maintain, manage and analyze Forex risk.
The Benefits
Banks
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Branch transactions, rate requests and feeds from the dealing
rooms are integrated through the TIBCO backbone. This allows dealing
rooms to maintain up-to-date information on branch foreign exchange
transactions.
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Transactions reflect real-time market values and the dealing
desk terminal displays holding positions with holding costs, margins,
current market rate and profit and loss on open positions.
Corporate Banking Customers
eTSY helps corporates maintain and manage their Forex exposure.
A transaction console on the portal helps the company request
rates and transaction information from the branch. -
User-friendly features include limit minders for profit, loss
and entries. Tickers for spot and date rates are also provided.
A feature-rich GUI offers drag and drop facilities for grid
customization and color preferences.
Security
A VPN enables a secure and authentic connection between the
remote user and eTSY. A single sign-on password controls access
and ensures that only authorized users can transact with the bank.
Confidentiality of transaction details between the bank and the
customer is maintained. -
The system is protected by strong encryption, with the verification
of client and server side certificates. Robust middleware ensures
that data delivery is always completed through an acknowledgment
mechanism.
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