EmxCo is expected to announce a series of further developments to the Emx messaging system in the fo...
EmxCo is expected to announce a series of further developments to the Emx messaging system in the fourth quarter.
Phil Wise, chief executive officer of EmxCo, said the group had been following a multi-pronged development strategy that will lead to advances in the system's valuation, settlement and reconciliation capabilities, as well as making it compatible with software language XML.
EmxCo has established a number of working groups to explore which areas of the system need work and how this is to be achieved.
The first announcement from the working group is expected in October, looking at automated reconciliation and how best this can help client money-holding intermediaries.
Wise said: 'The working group on automated reconciliation will issue a formal specification in October.'
An updated and enhanced version of the current valuation system will also be unveiled before the end of the year, with a view to going live in the first quarter of next year. The modified valuation system will be quicker than the previous incarnation.
A fourth-quarter announcement is also expected on the development of full connectivity of the Emx system to XML. Wise heralds this as a major breakthrough as it will simplify the process of linking companies into Emx.
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