4XTRA is designed to meet the major functional needs of dealing room managers and traders by offering an integrated, multi-user, full colour, real time computerised front office trading system. 4XTRA supports deal capture, in-depth position keeping, management consolidation (including across products), market arbitrage modelling and ticket printing or automatic back office integration.

The 4XTRA system comprises a combination of total integrated software modules. They present the trader with windows showing FX and Money Market dealing and Position Keeping displays, customer and positional limits, Arbitrage and Basket Currency Calculators. Each module can be purchased separately and easily modified to mimic your daily practices, ticket style and positional requirements.

The benefits to the user are considerable, saving time and effort from highly paid personnel by supplying instant exposure and profit figures. 4XTRA is high performance and very flexible. Tailoring is fast and cost effective.

A wide range of calculators are supplied with the dealing and position keeping system. These calculate short and medium term arbitrage (allowing for crosses in any currency) and for forward/forward calculations (FX, Deposits and futures), SAFE and FRA calculations. they are essential tools for offering prices as well as performing What If? analysis.

4XTRA's Multi-Currency Position Keeping is based on the ladders concept. This enables the system to constantly monitor the dealt positions showing maturing amounts (true and revalued at current rates), liquidity, cash flow, NPV profit and loss, sixes equivalent (for forwards), break even rate (for spot), etc.

The system has a number of levels of internal security. Since 4XTRA is capable of 24- hour trading, strict control of access to the system is necessary. All categories of users can be given or denied access to different features. All activity generates audit trails and a full system backup is provided every night for ultimate fall back.

Context sensitive help is available at all levels. The various facilities can be accessed by "hot keys" to bring up another window over the current activity. 4XTRA has its own internal mail service, enabling not only inter dealer communication, but automatic messaging of vital information to the relevant dealers. The system provides currency diaries for Nostro management and full enquiry facilities for the settlements area.4XTRA FX, deals in any combination of currency pairs without the need to split the position through USD. Any deal struck will impact the currencies involved, immediately reflecting changes in maturity, cash flow, liquidity, etc. The positions are constantly updated as rates change throughout the day and other deals are struck.

Deal entry is designed to be rapid and flexible. The full range of FX types (spot, swap, outright, FX option), SAFEs (FXA and ERA), Loans and Deposits, Futures and Options are supported. Internal arbitrage deals enable communication between FX and Deposit dealers, FX and Futures, etc. All market deals invoke the customer credit checking module as soon as the counterparty acronym is entered.

Management displays exist to provide an overview across all products dealt. Features include turnover analysis, combining of positions and revaluation in any currency. Data can be viewed numerically, graphically or exported to spreadsheets. Profit can be declared in any nominated currency. Trading limits can be set to monitor dealing activity.

The 4XTRA system is networked and can be attached to a rates feed, such as Knight-Ridder or Reuters Selectfeed. Facilities exist to allow easy, automatic communication with Back office systems, such as Kapiti. Full default settlement instructions can be kept and applied to all deals through a client specific, tailored module.

The design of the operations is such that it can be run by non-technical staff, providing facilities for reprinting, scheduling tasks, power down and recovery. 

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