AutoFX was developed in collaboration with a large Nordic customer in the media industry, in an effort to help modern treasury functions automate their daily routines and risk management. After an 18-month pilot phase run together with a handful of customers, AutoFX will now be made available to all Nordea customers.
AutoFX enables customers to enter instructions on how their foreign currency exposures should be managed. The actual monitoring of accounts and execution of orders is handled by AutoFX in autopilot mode. As a result, accounts can be swept to reduce excess balances or, alternatively, topped up to eliminate negative balances. In addition, AutoFX can facilitate automated hedging strategies or provide solutions for optimising interest costs in a cash pool.
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