Fedwire & Foreign Exchange

Global Funds Exchange (GFX)
GFX Foreign Exchange (GFX²)
Global Securities System (GSS)

Overview | Benefits | Frequently Asked Questions

GSS Frequently Asked Questions

Must my bank already be running BankServ's Global Funds Exchange (GFX) software in order to use the GSS securities trading system?

No. The programs are two different components of the same system, but each can function independently. Most banks that use GSS, however, also use GFX to consolidate their wire and securities operations into a single platform.

Which versions of GFX are equipped to handle securities trading? Does my bank need to update its software?

The GSS securities trading feature has been included in all releases of GFX since 2001. If your bank currently uses GFX or GFXN, you should also be able to use GSS; you will simply need to speak with a BankServ customer service representative to arrange for the feature to be activated and configured for your bank, and for us to help you work with the Federal Reserve Bank to implement it.

Can GSS interface with my bank's host accounting software to automatically update our records? Which accounting programs are supported?

GSS can generate accounting entries to be fed into your system, and in many cases, it can also update your entries automatically. Any accounting programs that GFX can interface with are also supported by GSS.

How secure is GSS?

BankServ is regulated by the same federal agencies that oversee the banking industry, and our products meet standards set by the FDIC, OCC, FFIEC and OTS. GSS is encrypted on both the client-to-server and server-to-Fed connections, and contains the same safeguards built into our GFX software.

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