Fremont, CA and London July 28, 2021 – We are pleased to announce that Baton Systems (“Baton”), the market solution transforming asset movements and settlements, won ‘Best Settlement Initiative’ at the FX Markets e-FX Awards 2021. The award was presented at FX Markets USA on July 27th.

Now in their 19th year, the FX Markets e-FX Awards recognise the dedication, skill and creativity of FX market participants, with winners selected by a panel of judges, including FX Markets editors.

Baton is enabling firms to eliminate FX settlement risk, by offering all market participants the opportunity to benefit from real time, payment-versus-payment (PvP) settlement protection for real assets, held in real accounts – regardless of currency pair. Using secure distributed ledger technology (DLT), Baton customers have the flexibility to settle when it best suits their funding profile with full and mutual visibility of the settlement process and payment strategies. The solution does not require tokenisation and is backed by a robust rulebook. Since its initial deployment, Baton has facilitated the PvP settlement of trillions of dollars of FX transactions.

“We’re delighted to have won the award for Best Settlement Initiative, it’s such an honour.” said Arjun Jayaram, CEO and Founder of Baton Systems. “I’m so proud of our incredibly talented and exceptionally experienced team. This award recognises their deep understanding of the challenges FX market participants face managing settlement risk and intra-day liquidity, and their dedication to supporting our customers in overcoming these hurdles.”