现金管理

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Pioneering XML for Cash Management Centralisation & Integration at NYSE Euronext We talk to NYSE Euronext about appointing one European cash management provider, implementing a zero balance account cash pool, and standardising their payment processing.

Pioneering XML for Cash Management Centralisation & Integration at NYSE Euronext

by Philippe Matsumoto, Senior Vice President and Group Treasurer and Fabien Varoquier, Head of European Treasury Operations, NYSE Euronext

With exchanges in both the United States and Europe, NYSE Euronext (NYX) has two treasury centres based in New York and Paris, which together manage the treasury operations and financial risks of the group. Euronext Paris is registered as a specialised financial institution and provides in-house banking services to other NYX entities. However, we needed to further improve the centralisation of cash across our European entities, that are located in UK, France, Netherlands, Belgium and Portugal. Due to fragmented banking relationships, we experienced both difficulties and unnecessary costs in our operations, so we sought to rationalise our different banking relationships and appoint one single European cash management provider. In conjunction with this project, a new shared service centre (SSC) was implemented in Amsterdam, Netherlands, to centrally manage account payables, account receivables and general ledgers, therefore reducing the financial processing at a local level.

Identifying a solution

We launched a request for proposal (RFP) in the summer of 2009 to potential European banking partners. We had identified a range of criteria:

Firstly, the bank needed to provide coverage in the relevant countries;

Secondly, the bank needed to propose a solution allowing us to minimise the number of interfaces and protocols we would have to maintain going forward;

Thirdly, the bank needed to provide competitive pricing.

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