Edgewater Markets, a provider of foreign exchange and precious metals optimization software, announced on Friday that Banco de Crédito del Peru (BCP), the largest lender in Peru, has joined its new trading platform.
The bank is leveraging EdgeFXLatam, which the company launched earlier this year, to receive a customized solution for its internal users, onshore clients, and global offshore market participants.
EdgeFXLatam is designed to offer streamed price technology for local participants in Latin America.
“We are delighted to partner with Edgewater Markets. The customized solution they have delivered has been a real game changer for us,” BCP’s Head of Sales & Trading, Fernando Pinglo said. “Providing a fully automated implementation of our proprietary pricing strategies, has allowed our traders and risk managers to optimize trade flows and further expand our distribution.”
A Localized Pricing Technology
The press release shared with Finance Magnates detailed that Edgewater Markets has electrified the bank’s pricing algorithms and hedging strategies, thus expanding their distribution to offshore counterparties.
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Additionally, the bank partner will provide traders with a suite of price and risk tools to further augment the price strategies.
Edgewater Markets is offering foreign exchange services to over 300 institutional clients. Apart from forex, the company included precious metals in its offerings. The company is aggressively expanding its industry reach and last month partnered with oneZero to provide liquidity.
“Effectively pricing the NDF marketplace is as much about technology as it is about credit. And Edgewater Markets provides both. Significantly expanding our clients distribution capabilities offshore,” Jose-Antonio Buenaño, Edgewater’s Managing Director and Head of South America, said.
“Fully partnering with Banco de Crédito del Perú, allows them to cost effectively leverage both our proprietary technology and balance sheet, to make the global markets more efficient. We are very excited to partner with BCP.”