FXall, a London Stock Exchange business, will implement Saphyre‘s patented technology to expedite their clients’ readiness to trade and reduce delays related to post-trade processes. Clients onboarding new funds through FXall will have a single entry process to set up their funds for all their liquidity providers at one time, and to share related legal documents more efficiently, while benefiting from full transparency into the status of each bank’s onboarding process.
Banks will deploy Saphyre’s API to consume account onboarding information and approve those accounts systematically in FXall, setting them up to be ready to trade in as little as 24 hours. In addition, FX liquidity providers can complete their KYC for these accounts in order to trade FX, equities and fixed income.