Page 235 - Accounting Best Practices
P. 235
c11.qxd 7/31/03 3:15 PM Page 224
Finance Best Practices
224
transaction reports with banks, as well as print or download trade ticket informa-
tion. There are also no transactional errors, since the Web site automatically
matches and stores the financial and settlement details for each party to a foreign
exchange transaction. Also, most sites give traders access to research, analytical
tools, and current news reports. Further, some sites offer customization of the
interface, so that one can see only specific fields, create templates for repetitive
trades, and modify standard reports. It is even possible to use instant messaging
between both parties to a transaction! In short, there is a wide array of advantages
to these excellent sites that make them a clear improvement over other methods
for completing foreign exchange transactions.
Cost: Installation time:
