Bank Julius Baer is one of the leading banks in foreign exchange trading and provides its institutional clients with 24 by 7 access to currency markets. Following the acquisition of three private banks, Bank Julius Baer decided to invest in a trading tool to replace existing infrastructure and to cope with its vastly increased volumes, while also addressing significant operational challenges.
In a bid to provide its asset managers with better access to its trading environment and enable its sales traders to focus on other more valuable tasks such as advising direct access clients, the bank reviewed the market for internet trading applications. After a competitive tender, it chose the Wallstreet FX - Web. This decision was due to the bank's satisfaction with the core front office trade processing system, Wallstreet FX, and the module's close integration.
"Now that we have implemented Wallstreet FX - Web, we are benefiting from a single database for all transactions and static data," said Simon Battaglia of Bank Julius Baer. "This enables our portfolio managers to view all deals regardless of whether they were executed online or over the phone. We're delighted with the improved accuracies and efficiencies we have gained from this solution."
Wallstreet FX - Web accepts rates from third party feeds and automatically calculates margins when quoting prices in real time. The bank's asset managers can also execute small to medium sized transactions and allocate trades - providing further relief to the dealing room. Additionally, this secure solution prevents unauthorised third parties to access information, maintaining the bank's clients'
"By deploying our real-time trade processing solution, Bank Julius Baer is able to deal with high volumes of FX trades. By implementing Wallstreet FX - Web, our Internet Trading Module the bank gains even more value from its FX sales desk," said Rick Schumacher, product manager at Wall Street Systems. "Investing in such technology has allowed Bank Julius Baer to maintain its leading position in its chosen markets."