Standard Bank South Africa deploys TradAir eFX solution
SBSA is the largest bank in Africa. It will be deploying TradAir to all of its 18 regional dealing centres across the continent.
TradAir NOW, delivers real-time FX trade analytics, enabling SBSA to more effectively price, and profitably manage client flows and LP performance in real-time.
Standard Bank South Africa (SBSA) is a very active and fully committed two-way market-maker in Dollar Rand (USDZAR), across all primary and the majority of secondary venues on a global basis. Their strategic goal is to be the dominant market-making bank in Rand and other African currencies, on a global basis.
As the largest bank in Africa, SBSA services a large and diverse client base, and are the leading provider of FX services in the continent, resulting in large volumes of client flows, both in Rand and other African regional currencies as well as in G10 majors. SBSA services the FX needs of their commercial, corporate and institutional clients through a number of tailored online FX trading channels, with resultant flows either internalised or hedged in the market.
SBSAs strategic vision is for their FX market-making to evolve, whereby primary market-making capabilities will reside with regional specialists, whose expertise is backed by strong local knowledge and client flows in their particular currency pairs, with world class eFX technology, connecting the specialists, enabling them to offer clients a truly world class FX service.
Speaking about their decision to select TradAir’s e-FX platform, Tim Hutchinson, Head of eFX trading at SBSA said:
TradAir are a strategic platform for the SBSA group, and their customisable rate-engine and hedging solutions enable us to improve our dollar rand market-making capabilities.
We plan to deploy TradAir to all 18 of our regional dealing centres across Africa, enabling each local operation to market-make in the core currencies. As a result, our clients will benefit from more competitive and robust pricing, whilst our auto-hedging strategies, means our risk management is now more effective.