The new hosted service will enable banks to launch a single-bank e-trading execution platform for a wide variety of financial instruments - including Foreign Exchange (FX), Money Markets (MM), Bonds, Derivatives and Options -- without heavy upfront investment in technology or expert staff. The service can be up and running in a matter of weeks and pay for itself through increased revenue generation.
Eurobase’s hosted Siena e-Trading Solutions delivers high-speed rate management, connectivity to multiple portals, Electronic Communications Networks (ECNs), customers and proprietary channels, together with a one or two-click browser-based e-trading platform. It enables banks to trade in a broad variety of products and asset classes from a single customised branded screen with near-zero latency response.
“Our larger banking clients have been benefiting from in-house deployment of Siena e-Trading Solutions for a number of years -- not least in terms of improved customer service and increased revenue generation,” says Bonnie Banerjee, Director, Eurobase Banking Solutions. She continues: “The hosted version will bring online trading within economic reach of regional or more specialist banks who want to enter the e-trading marketplace. It will also appeal to users who have outgrown ‘white label’ providers, as well as those who want to move from a tedious, manual Request for Quote (RFQ) and telephone process to a slick web-based Executable Streaming Price (ESP) model.”
The Siena e-Trading Solution consists of:
Siena eTrader -- an intuitive and configurable browser-based e-trading execution platform. It has a streamlined robust design that includes full streaming to cover ESP and RFQ /RFSQ, one or two click trading and rules-based dealer intervention. The architecture caters for multiple asset classes and allows rapid deployment of new products from design to market in short timeframes. Low latency, real-time updates, rapid product development, high design flexibility and a browser-based deployment make Siena hard to match.
Siena Gateway -- a high performance connectivity application used to control and manage streaming rates to multiple portals and execution venues. It can also connect the application to the bank’s internal systems for full STP.
Siena Rate Manager -- an essential real-time application that delivers very high performance and full rate management capabilities including spreading, price skewing, tolerance and volatility checks.
“We believe that Eurobase is offering an alternative entry point into e-trading. Online trade execution and order management utilising an ESP module is no longer the exclusive province of big banks with big technology budgets.” says Banerjee. “Any bank -- large or small -- whose business objectives are to gain and retain customers; open up new opportunities; improve profitability and increase its revenue should be very interested in Siena e-Trading Solutions -- hosted with Eurobase or installed at their bank,” Banerjee concludes.