South Africa-based Standard Bank has chosen London-based Caplin Systems’ web trading platform, Trader 3, for its corporate and investment banking division.
Designed to offer prices, analysis and the ability to execute in multiple asset classes, the new technology will fulfill the demand of electronic trading and other online services of the corporate and institutional clients.
Standard Bank eCommerce IT (corporate and investment banking) head James Nicolson said the technology upgrade helps the bank to offer cost efficient services with greater flexibility, while minimizing network traffic.
Trader 3 will enable the lender to develop advanced, highly differentiated online trading offerings working across desktop and mobile platforms.
The bank has decided that FX and precious metals will be the first asset class to be launched in 2013 and the platform will be initially used for spot, forwards, swaps and orders.
Caplin Systems offers components and tools for building multiproduct web trading applications and single-dealer platforms, which is used by Barclays Capital, Crédit Agricole, Citi, Fannie Mae, Nomura, RBS, Standard Bank, UBS and UniCredit.
Employing over 52,000 staff across all countries, including its subsidiary Liberty, Standard Bank manages 1,222 branches, loan centers, and 7,945 ATMs in the continent.