Real-Time Transactions
The onExchange Extensible Clearing System (ECS) provides for processing of information in real time. Alternatively, transactions can be accumulated and processed in batch mode at a frequency and schedule that meets the business needs of the enterprise.

Processing that Fits Your Requirements

Demands for T+1 and STP as well as heightened customer expectations have resulted in the need to process transactions with little or no delay. This requires a system capable of running continuously on a 24x7 basis. In addition, established business practices and legacy systems frequently dictate a periodic processing schedule such as end-of-day, or mid-day runs. ECS supports both modes of processing. Customers can choose the mode that best fits their business and change how the system processes transactions as their needs change.

Real-Time Information

Real-time calculation requires real-time data. ECS allows for real-time updating of price information and currency rates. This provides for more effective risk management and up-to-the-minute reporting based on current market conditions.

Real-Time Credit Checking

ECS can optionally perform real-time credit checking so that margin is calculated and collateral is applied to cover each trade immediately. Trades are allowed or denied in real time yielding maximum use of collateral, and traders are notified of the results immediately avoiding time-consuming corrective action for trade deficits.