ITRS to monitor South African Bank new multi-asset platform

London - 15 July 2013

ITRS Group Ltd, the leading global provider of performance monitoring and management technology, has today announced that ITRS Geneos is set to monitor a new multi-asset trading platform deployed by one of South Africa’s largest banks.

The rise of African online trading, in preference to phone-based trading, means the bank has extended its FX offering via a new, web-based trading platform. Focussing on FX and precious metals, for corporate clients in particular, the offering provides prices, analysis and trade execution services. The platform covers a range of instruments, including spot, forwards and swaps.

Kevin Covington, ITRS CEO said: “Our client’s new strategy required a scalable and robust solution to monitor the whole backbone of the platform, including the complete flow, from pricing through to execution. ITRS Geneos plays a crucial role in maintaining high levels of performance availability of key components, including everything from Financial Information eXchange (FIX) to the pricing engine.”

As African traders continue to move towards e-trading, the region’s banks are increasingly adopting diverse infrastructures to meet the needs of both developing and developed markets. Consequently, the South African bank was faced with the challenge of implementing technology new to the African market that meets its need for high-performance multi-asset trading.

ITRS works with 90 leading financial institutions, including investment banks, exchanges and trading venues, hedge funds, brokers and data vendors around the world. ITRS moves with the market to continually upgrade Geneos’ capabilities.

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