Financial Data Exchanges
Switching Settlements Data Exchange (SSDX)The Switching Settlements Data Exchange (SSDX) is a monthly financial exchange that offers railroads of all sizes an automated, standardized way to process switching charges. SSDX simplifies and expedites billing and ensures accuracy of switching charges by collecting and validating switching data, calculating net settlements, and issuing inbound and outbound reports to participating roads.
Railroads that provide switching services submit a consolidated monthly billing statement electronically through SSDX instead of sending paper invoices to multiple carriers. SSDX eliminates the need to process multiple paper invoices by hand, improving the speed and quality of information flow and capturing errors that can delay payment. This reduces in the cost of auditing interline switching settlements and provides an economical means to recover revenue lost through improper switching charges.
SSDX users can submit data through an FTP upload or through an easy-to-use Excel template and web upload interface. A validation feature produces a PDF report that provides immediate feedback on errors in the data. Billed rail partners receive a PDF summary of the billing statement and can dig into deeper levels of data if they identify a questionable item in the bill. SSDX is integrated with Railroad Clearinghouse, a centralized system for rail industry participants to administer and transfer funds.
Freight Loss Data Exchange (FLDX)
The Freight Loss Data Exchange (FLDX) is a monthly process that is used to exchange foreign line debits for freight claims and produce settlement reports for railroads that participate in the National Damage Prevention and Freight Loss system. The application takes in freight loss data provided by participating roads and forwards freight claim records and a net settlement report. This net settlement report shows the details of the freight loss and damage claims for interline shipments and the portion of the claim that is to be paid by each carrier. The application provides a data consolidation service to the interline carriers where all of the freight loss claim data settlement are assembled into a report that informs each carrier as to their claim liability in relation to all other participating carriers.
Last updated May 16, 2013