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FXpress Corporation Announces FIRST™ S9 Release - Improves loan management, bank account oversight, hedge analysis and FX netting - FXpress.com
FXpress Corporation Announces FIRST™ S9 Release

 

PRZOOM - /newswire/ - Bala Cynwyd, PA, United States, 2009/06/08 - Improves loan management, bank account oversight, hedge analysis and FX netting - FXpress.com.

   
 
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FXpress Corporation, a market leading treasury software provider to the Fortune 1000, announces the release of FIRST S9™, the latest version of the company's web-based Software-as-a-Service (SaaS) Treasury Risk Management and Accounting Software for corporations.

Based on years of working with multi-national corporations, FIRST S9™ introduces a leading-edge, re-designed intercompany lending facility, a new Bank Account Management module and powerful new netting tools, designed to make FX trading costs easier to manage through back-to-back hedging.

The FIRST S9™ inter company lending tool is capable of handling the diverse range of corporate loan practices, including fees and taxes, and greatly reducing the time to manage a large portfolio of variable-rate loans. “Treasuries often lack the tools to track and analyze complex intercompany loan portfolios and effectively managing these portfolios can help reduce P&L volatility and result in significant tax, equity, and liquidity benefits to both business units and the parent corporation,” says Stephanie Swanton, Interest Rate and Debt Product Manager at FXpress. Intercompany lending supplements FIRST’s management tools for debt, revolving lines of credit, money markets, and interest rate risk.

The Bank Account Management module introduces a bank account audit workflow enabling treasury departments to identify unused accounts and reduce operational risk. “Leveraging FIRST’s technology to build an effective bank account and signatory repository and management process can yield direct benefits in lower bank fees, improved global cash visibility, decreased operational risk, and easier compliance with internal controls and governance policies,” says Darren Greway, Vice President of Product Development at FXpress.

FIRST™ continues to be a market leader in corporate risk management by providing additional tools to statistically assess the effectiveness of potential hedges and comply with FAS 133, FAS 157 and IAS 39 documentation requirements, while hedge accounting policies such as OCI reclassing may be automatically enforced through expanded hedging templates. FIRST S9™ extends the benefits that corporate treasuries have come to expect from FIRST™: ease of use, flexibility, leading-edge derivative accounting and exposure management, improved compliance, and workflow that saves time and money.

About FXpress Corporation

Premier corporations choose FXpress (fxpress.com) as their technology partner to simplify and automate core treasury processes. FIRST™ Treasury Risk Management and Accounting Software, the company’s product offering, enables the management of exposures, derivatives and hedge accounting for FASB and IAS compliance via Software-as-a-Service deployment. Founded in 1993, FXpress Corporation is headquartered in Bala Cynwyd, Pa.

 
 
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Agency / Source: FXpress Corporation

 
 

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FXpress Corporation Announces FIRST™ S9 Release

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Contact: Ryan Cantwell - FXpress.com 
610-617-7988 rcantwell[.]fxpress.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any FXpress Corporation securities in any jurisdiction including any other companies listed or named in this release.

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