It is proving to be a game changer for the currency brokers who use it. Hedgebook’s Fast Forwards Valuation Tool enables brokers to upload up to several thousand client positions at a time – and get accurate valuations – in minutes. It is simple to use, saves a truckload of time and is a hugely efficient way to have constant visibility over yours and your clients’ FX positions.
Why the Fast Forwards Valuation Tool was developed
Most brokers run extensive client portfolios across a wide range of financial instruments . Mark-to-market reporting with such a volume has long been problematic – but increasing client demand and regulatory reporting has shifted the urgency in being able to get accurate, independent valuations.
Many brokers still only provide their clients with valuations on key reporting dates. But when there is a sudden or large market shift you don’t want to wait. You want to understand the impact of FX movements across all the impacted portfolios – at a high level and in detail. Plus, the information needs to stand up as being accurate and independent as critical business decisions may be made off the back of it.
How Fast Forwards works
Hedgebook’s aim is to make the very complex, really simple. In subscribing to the Fast Forwards Valuation Tool you receive unique and dedicated access via a secure URL. The information is securely processed – as per any other Hedgebook valuation. You can bulk upload hundreds or thousands of positions at once with the information processing taking minutes (see for yourself in this quick Fast Forwards video.)
It doesn’t limit how much you use it or the number of transactions. Brokers who have tested it in the beta phase report they are now tracking valuations on a daily and monthly basis and able to analyse far more effectively. They can now understand both the overall impact of any change as well as at a detailed, portfolio level.
It makes the internal discussions around the risks clients are running on their portfolios more timely, accurately assessing risk in line with market changes.
Clients will thank you for it
It is functionality clients expect you will have. Your clients will want to know that you are managing their risk and your own in a timely and accurate manner. If your broker can only give you an updated accurate valuation once or twice a year – it does leave you wondering what happens if the market has a major change in that time? So ‘fast forward’ to your broker to see if this is part of the customer experience they could offer.
It is just one way Hedgebook is working to improve the quality of engagement between brokers and their clients…and it is proving to be highly effective. To take a quick look at how Fast Forwards works please check out this quick – three minute video – it really is that quick and easy.