Swedbank has gone live with Eurobase’s market leading e-connectivity solution, Siena Gateway. The Bank is expecting an increase in trading volumes after implementing the Siena Gateway to distribute high-performance streaming prices to, initially, the FXall platform.
“Eurobase worked closely with Swedbank to ensure very rapid deployment of the Siena Gateway, coming in on time and within budget in just 11 weeks from first software delivery. This is a creditable achievement in the light of the size and scope of the project’’ comments David Mallinder Eurobase Business Development Director.
‘’Being able to auto-stream prices with near-zero latency means that we are able to respond to price requests much faster, helping to secure a greater number of trades” comments Madeleine Persson Head of FX e-trading for Swedbank.
Siena Gateway is a strategic tool for the near-zero latency streaming of prices to a variety of channels, e-FX multi-bank portals and proprietary platforms. The product has been designed specifically to handle extremely high trade throughputs via multiple execution venues.
Following this successful first phase of the project, Swedbank now has the possibility to extend the system to include additional execution venues, licensing adaptors to access more eFX channels and portals. As these adaptors are already available from Eurobase, the Bank will benefit from the fast time to market and low incremental costs for further connectivities.
The Siena Gateway is part of Eurobase’s Siena e-Trading Solution, which also includes Siena eTrader and Siena Rate Manager. Siena eTrader is a real-time web-based execution platform. Siena Rate Manager enables banks to consolidate multiple price feeds and produce high performance rates that can be published for real-time execution or indicative pricing. Together, these products enable banks to maximise revenue generation from customers and branches.
