Lab49 and National Australia Bank (NAB) today announced a pilot NAB starXchange is being released to the market. NAB starXchange is a cutting edge, fully automated platform for pre-trade, execution and post-trade activity.
National Australia Bank (NAB) is a global financial services organisation committed to improving customer experiences through digital innovation, and making banking simpler and more efficient. That includes helping its global customer base access Australian and New Zealand financial products.
In support of this, NAB developed starXchange, the first e-trading platform with uniquely Australian knowledge. starXchange provides institutional clients with a seamless trading experience and easy access to historical trade data. Clients can trade through the platform itself or through major multi-bank platforms.
To achieve its ambition, NAB partnered with Lab49, a specialist in Capital Markets technology transformation. Both parties worked closely on designing and engineering an end-to-end solution.
NAB Executive General Manager, Fixed Income, Currencies & Commodities, Drew Bradford said: “Lab49’s commitment to success and innovation, coupled with NAB’s local knowledge and expertise has enabled us to create a ground-breaking trading solution. The effectiveness of the platform is a testament to the partnership, shared customer focus, engineering sophistication and our drive to deliver a truly excellent customer experience.”
CEO of Lab49, Luke Flemmer said: “Delivering transformational projects is complex and requires coordination of multiple bank stakeholders. Specialist partner expertise needs to align correctly with internal functions and capabilities in order to be effective. This was a very productive partnership, and we are proud to have enabled NAB’s digital innovation in a fast moving market segment.”