Everyone in the foreign exchange markets knew the code.
"A large Asian central bank is buying," meant intervention by the People's Bank of China.
"A big Australian mining company wants $500," was an order by BHP Billiton for US dollars, in the millions.
Such disclosure of confidential information, which gives some banks and their clients an unfair trading advantage, will be largely eliminated if Reserve Bank of Australia deputy governor Guy Debelle has his way, along with rumour-mongering, front-running, market manipulation and other forms of cheating that have blighted the world's biggest financial market for decades.
Read more in the AFR (subscription).
In this opaque and apparently corrupt industry, a transparent new system is coming online in just a few days.
Flash Payments systems replace these opaque, siloed and inefficient networks with a common global infrastructure that brings new efficiencies to financial remittances by enabling near real-time settlements, improving visibility and reducing risk.
The technology tightly integrates payments messaging with funds settlements, allowing for unprecedented visibility and performance.
Flash Payments, a cutting edge fin-tech startup based in Sydney Australia, is engineered from the ground up to deliver intelligent foreign exchange transfer services, without hidden fees.
Using the innovative Ripple technology platform and XRP, Ripple's digital currency, Flash Payments delivers extraordinary transparency, speed and transactional control to users.
Flash FX puts their customers in control. They can choose a target conversion rate, automate the international money transfer and track their currency transfer, like a package, from start to finish.
Change is coming to foreign exchange financial services. It will alter the competitive landscape in favour of the consumer forever.
Flash Payments provides a lean high-performance foreign exchange transfer payment services that safely, efficiently and reliably provides users with a better customer experience.