Citibank GTS Unit Beta Tests FX Match Confirmation System For Corporates

Citibank's Global Treasury Services unit is beta-testing a confirmation matching system for corporate customers called FX Match, according to a source at the bank. The multidealer system will rival Chemical Bank's Banklink product, which performs much the same function, he says.

At the moment, confirmation of corporate trades is generally done by telex after the trade is cleared--possibly as many as five days after the fact. "Most companies have no idea what trades they have actually done," says