Rand Merchant Bank has selected Eurobase’s market leading Siena Front Office, Siena Rate Manager and Siena eTrader products to provide a complete multi asset class eTrading and order management platform.
Rand Merchant Bank (RMB) is the investment banking arm of FirstRand, one of South Africa’s largest JSE-listed financial services groups. The Siena eTrading Solution will provide high performance pricing including sophisticated margin management to end customers and will also allow the bank’s customers and branches to trade directly via a single platform in, initially, Forex and Money Market products.
The Siena eTrading Solution offers market leading functionality including full support for one click trading via ESP (executable streaming prices), product functionality that includes electronic trading in FX swaps, outrights (including broken dates and options), FX limit order functionality and support for other asset classes such as money market term and call money. The rollout of additional asset classes such as Fixed Income and Interest Rate Derivatives and Options (already supported within the Siena core application) are planned for future phases.
The Siena eTrading Solution offers the bank a platform that can compete directly with the Tier 1 price makers, enabling the bank to differentiate itself through performance and value-added customer service while automating downstream processes within the bank’s sales and trading divisions.
David Mallinder, Business Development Director at Eurobase Banking Solutions, commented: ‘’We are delighted that Rand Merchant Bank has chosen the Siena eTrading Solution to underpin its emarket initiative. Eurobase’s Siena products offer true differentiation in this market space enabling our clients to grow their customer base and increase revenue from electronic trading. We expect to announce further project wins covering the full range of products within our Siena eTrading Solution in the very near future.”