The Corporate and Investment Banking Business unit of Sberbank has announced that it is launching a new electronic trading platform to facilitate transactions for a number of clients. The company will deploy the solution to primarily assist its institutional interests and with the possibility to expand it to high net worth customers that engage in electronic trading transactions.
Recently, Nordic focused bank Nordea Markets has deployed a similar solution for its client base aiming at the foreign exchange market. The platform that Sberbank is deploying is similarly focused for the time being, but the firm intends to expand functionalities across different asset classes in the coming quarters.
the firm intends to expand functionalities across different asset classes in the coming quarters
Sberbank Corporate and Investment Banking (CIB) explained that its clients will have easier automated ways to execute, confirm and settle orders with the bank. The new platform will also result in significant cost savings related to the transactions.
Sberbank Markets Electronic Trading Platform
The name of the platform is Sberbank Markets and it currently offers access to the FX liquidity of the bank and quotes on spot FX and linear FX derivative contracts on major foreign exchange pairs. Future plans include expansion into money markets and other asset classes.
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Sberbank Markets is currently available only to major corporations, banks and financial institutions. In time the company states that its aim is to deploy the solution for medium sized clients, retail clients of regional bank offices and clients that are located outside of Russia.
Sberbank Markets is currently available only to major corporations, banks and financial institutions
The Head of the Electronic Markets division of the Global Markets unit of Sberbank, Damian Bans, stated: “Sberbank CIB is not only providing its services to the largest corporations and financial institutions but is also transforming into a hub that is delivering new products to other categories of clients within the banking group.”
“We plan to continue developing new online trading products and Sberbank Markets us a key part of these offerings,” he added.
In 2015 the Global Markets division of Sberbank registered sustainable growth and fully reached its targets. The macroeconomic environment in Russia has also pushed a number of corporations and financial institutions to shift their priorities and increase their involvement in hedging and trading strategies to minimize their risks.
As such, the new platform Sberbank Markets could quickly become useful for those clients that are interested in executing their orders in real-time.