NEX Group Launches New Cash and Collateral Movement Workflow Tool 'PIVOT'

NEX Group (LSE: NXG) a fintech company operating in electronic markets and post-trade business, has launched PIVOT (Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term and Investments Optimisation Tool), a new cash and collateral movement workflow tool which enables clients to make cash movements and money market sweeps.

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This new service will be available either individually or in addition to the ENSO Core platform. Through the partnership between NEX Optimisation and NEX Markets, PIVOT will be able to connect the ENSO Core platform with the NEX Treasury.

This new service will enable Buy-Side Buy-Side The buy-side is comprised of firms in the financial industry that purchase securities and are accompanied by account investment managers, pension funds, and hedge funds.The buy-side is composed of those that buy and invest large sums of securities with the intention of generating a lucrative return or have their funds managed. The Buy-Side ExplainedIn terms of Wall Street, the buy-side includes investment institutions that purchase securities, stocks, or other financial instruments with the aim The buy-side is comprised of firms in the financial industry that purchase securities and are accompanied by account investment managers, pension funds, and hedge funds.The buy-side is composed of those that buy and invest large sums of securities with the intention of generating a lucrative return or have their funds managed. The Buy-Side ExplainedIn terms of Wall Street, the buy-side includes investment institutions that purchase securities, stocks, or other financial instruments with the aim Read this Term institutions to act on cash insights identified within ENSO Core to make the decision-making process quicker and improve counterparty relationships. PIVOT will also help hedge funds to execute cash payments directly through the portal for margin management, manage third-party relationships, and invest excess cash in money market funds.

According to Nex, it will allow single or multiple cash transfers to all the major banks and broker-dealers through a straight-through processing (STP) connection via the secure SWIFT network.

CEO of NEX Optimisation Jenny Knott said: “Our established multilateral networks and subject matter expertise across NEX Optimisation enables us to provide a suite of services to our clients to optimise their financial resources, reduce their costs, simplify their workflows while giving them confidence in their own data. PIVOT is an integral part of our objective to streamline increasingly complex processes for our clients.”

CEO of ENSO Matthew Bernard said: “In launching PIVOT we have realised the power of the NEX portfolio of businesses, and have built a new solution for our buy-side clients that provides support for cash and collateral management, and treasury and portfolio finance functions.”

CEO of NEX Treasury Justin Meadows said: “In partnership with NEX Optimisation we have now extended this tried and tested capability to provide clients with a secure, reliable and convenient way to automate the substantial cash collateral management workload many of them face every day.”