Kyriba, which provides cloud-based treasury management software, has partnered with 360T, a multidealer platform for transacting foreign exchange, interest-rate derivatives and money funds, the two companies announced, a move that will allow Kyriba clients that employ 360T to manage pre-trade, trade and post-trade functions in a seamless fashion.
“In using 360T, they’ll be able to automatically download the trades into the treasury workstation,” says Bob Stark, vice president of strategy at Kyriba.
Stark estimates that corporate treasury staffers still do 60% to 70% of foreign exchange trades over the phone. But Kyriba’s clients have been expressing more interest in transacting electronically and being able to integrate that effort into their Kyriba system, he says. “We were getting more calls from our customers saying, ‘We’d like this option to link directly to Kyriba.’”
“People are starting to grasp that there are significant advantages to being online for a lot of different reasons,” Stark adds. “When you have online systems, it just makes sense to put them together.”
Enrico Camerinelli, a senior analyst at Aite Group, sees the partnership between Kyriba and 360T as part of a trend in which treasury management systems expand their functionality to allow treasurers to provide their companies with more information that they can use in making decisions, bringing treasury systems to a new level that he dubs “treasury intelligence management systems,” or TIMs.
“I was anticipating that treasury systems will provide treasurers with the possibility of being more active in working in the capital markets, understanding trade values, being able to perform some foreign exchange operations from the treasury system, without moving into another system,” Caminerelli says. “This partnership with 360T validates my initial findings.”