FX - Order Management System
SCORG Technologies has developed FX Order Management System (OMS) for Banking and Financial Institutions for Forex Spot orders. A web based software solution, it will facilitate smooth flow and management of Forex Spot orders between sales desk / branches and their interbank desk of Treasury departments.
In a standard order management process, the Bank’s client places their order with the sales desk. Later, the sales desk places the order verbally with the interbank desk through telephonic communication. Numerous sales teams are located all over the country. This cycle of order placing and execution is dynamic, involving cancellation and modifications to the order placed. The telephonic communication hinders both the sales and interbank desk in tracking the order effectively. The verbal communication has inherent flaws and is time consuming for the inter bank trader.
The FX-OMS phases out delays and manual flaws of communication associated with verbal conversation over telephone between sales desks and interbank desk. FX - OMS helps bank improve communication and co-ordination between sales desks and interbank desk, thus implementing an efficient order placing, monitoring, reporting and time management system.
FX-Order Management System is scalable and customizable as per the business requirement of the clients. Further integration with Treasury systems and enablement of Straight through Processing (STP) of orders can be executed by SCORG, thereby making treasury management more automated.