We should not expect the G20 to end the turmoil. The two largest members of the G20, the United States and China, are talking past each other. One may even walk out of the meeting to make a statement over their unhappiness at discussions not going their way. At a minimum, a success at the G20 would be to forge a common position in favour of supporting international trade for inclusive and sustained growth without losing anyone along the way. Of course, on the sidelines, the United States and China may have informal meetings to make progress on their dispute.
But even so, a bilateral deal that will still weaken the rules-based trading regime is likely. In preparation for the G20, eight ministerial meetings have been held in various locations in Japan, including trade and digital ministers having their first joint meeting. The Tsukuba Ministerial Statement selected its words carefully, particularly to avoid singling out any individual country for blame.
The statement does not even directly challenge rising protectionism. Nevertheless, the need for WTO reform was explicitly referenced. And even though China is not explicitly mentioned, the industrial subsidy issue is. With the exception event viewer any errors can be viewed and actioned as soon as they occur.
The system also provides a consolidated view of cash positions including internal Vostro accounts and real-time Nostro balances. These can be viewed at currency or at individual Nostro level within each traded currency ensuring a full view of the bank s liquidity position at any time. Central counterparty clearing In response to new regulatory requirements and market practices, Summit FT addresses regulatory demands for improved transparency and enhanced risk management in a centrally cleared environment.
The solution provides advanced straight-through processing STP , a comprehensive trade repository, plus cross-asset collateral and margin management for both OTC and exchange-traded derivatives. These enhancements ensure that firms can manage the complexity associated with multi-participant workflow effectively and can meet regulatory requirements for margin and collateral management in a single, comprehensive system.
Customers can adopt a componentized approach, adding new functionality as and when they need it. This approach allows them to respond immediately to changing regulatory requirements, with minimal disruption, risk and cost. Real-time exceptions and cash management Real-time, event driven workflow servers automate the complete back office process with definable business rules ensuring that transactions are delivered exactly where they need to be, anywhere in your organisation, regardless of volume or instrument type.
From automated confirmation generation, settlement messaging and realtime payment processing, exception management and Accounting Summit FT provides a flexible accounting module that efficiently manages a full range of lifecycle events for all asset classes. It enables multiple accounting treatments to be run in addition to back-valuation, automatic posting and account reclassification, while maintaining book and valuedated balances. Customisable charts of accounts can be created with interfaces seamlessly linking the systems to a wide range of external general ledger systems.
The hedge relationship can be defined, linking it to its hedging trade with effectiveness testing of the relationship throughout the life of the relationship, on a user defined periodic basis. All of this data is stored, and is fully auditable to demonstrate compliance with the standard. Whether importing deals automatically from Dealing or sending payments or confirmations electronically, the need for manual re-keying is removed. Confirmations are dispatched automatically in the required format with trades to be centrally cleared automatically routed to the selected clearing house.
In addition, the ability to use thirdparty report writers, or tools such as Microsoft Word or Excel from within the application, gives increased flexibility without any loss of control. Brochure 7.
PECC - A New Trading System Following the G20 Osaka Summit
The architecture of Summit FT provides scalability, flexibility, extendibility and a high level of security and control. The solution combines real-time, n-tier distributed processing capabilities with the latest. All computational tasks are moved from the front-end desktop client to distributed back-end application servers, concentrating processor-intensive tasks in a high performance server environment. This approach maximises performance and realtime response and significantly lowers hardware requirements at the desktop. Customisable user environment The.
NET desktop gives the user the power to set up an individual screen to look the way they want, while the role-based security enables the organisation to control and manage what the individual is allowed to see and do: Contents, layout and the behaviour of each view can be specified Composite pages can include both Summit FT and external applications such as MS Excel, MS Word or Crystal Reports Fonts, colours and layout can be adapted to suit personal working preferences and screen space Extendibility with etoolkit Summit FT also provides a rich set of development tools and APIs to enable individual customisation of extensive parts of the application.
For example: data models, trade types, bank specific models and processes, reports, integration with specific external applications and many more. Grid computing Through our partnership with DataSynapse, Summit FT is grid enabled to provide the fastest possible answers to calculations on high volumes of complex calculations by optimising the compute power across the processing capacity of your network. This speeds up decision making with results returned in minutes rather than hours.
Zero-touch deployment Deployed via Internet Explorer from a web application server, the solution eliminates the need to commit valuable IT resources for local software installations or upgrades. IT departments deploy information and software upgrades quickly to global users with minimal cost. High volume capacity Summit FT gives the flexibility to choose the backend architecture that best fits within the Bank s IT infrastructure eg.
The distributed architecture enables financial institutions to handle growing workloads, additional users and to capitalise on capacity as the need arises. Connectivity As well as simplifying the technical architecture by replacing multiple legacy systems, Summit FT sits seamlessly within your existing infrastructure.
Connectivity tools range from real-time off-theshelf interfaces for industry standard systems such as Dealing , Swapswire, EBS, MQSeries or SWIFT, seamless integration with other Misys solutions, to generic XML-based interfaces for other systems remove the need for re-keying of information and the subsequent reconciliation processes. Microsoft office integration As well as drag-and-drop functionality, Summit FT enables full integration with Microsoft products such as Word or Excel.
With 1, customers in countries our team of domain experts and partners have an unparalleled ability to address industry requirements at both a global and local level. Combined they are able to address all customer requirements across both the banking and trading book businesses. Misys is the trusted partner that financial services organisations turn to for help solving their most complex problems.
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European Climate Summit 2021
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