e-Mid targets electronic settlement of MM trades

Vincenzo Mioccio, general manager of e-Mid, told FX Week the move, which will link e-Mid to RTGS (real-time gross settlement) systems in Europe, would reduce banks' back-office costs and cut risk. "We believe that by linking RTGS systems, liquidity will be higher and settlement risk will be reduced. As long as banks are settling manually, there will always be delays due to the back-office process. Automated post-trading procedures will create a higher level of efficiency and cost savings,"

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