Bill Strachan Nov 17, 2008 12:16:00 PM 1 min read

Eurobase wins eFX Gateway project with Rand Merchant Bank

Rand Merchant Bank (RMB) has selected Eurobase’s Siena Gateway product to distribute high performance FX Streaming prices to, initially, the 360T platform.

Siena Gateway will provide Rand Merchant Bank - the investment banking arm of FirstRand, one of South Africa’s largest JSE-listed financial services groups - with a strategic tool for the near-zero latency streaming of prices to various channels, e-FX multi-bank portals and proprietary platforms. The product has been specifically designed to handle extremely high trade throughput to manage the ever-increasing e-trading volumes and number of execution venues.

Gert Visser, Chief Operating Officer (Fixed Income, Currency and Commodities) at Rand Merchant Bank commented "For RMB this was an obvious choice as we are already implementing several other Siena modules. Siena Gateway meets the high performance requirements we need for both supplying and taking liquidity plus comes with connection adaptors for most portals and Banks we would need to send / receive rates from."

The Siena Gateway incorporates highly flexible rules-based processing and provides support for ESP, RFQ, RFSQ and Dealer Intervention. Full lifecycle price and trade acceptance performance has been measured at near-zero latency including pre trade e-credit checking.

David Mallinder, Business Development Director at Eurobase Banking Solutions, commented: “The Siena Gateway enables our clients to retain and grow customer business across any number of execution venues allowing the centralised management of liquidity and risk. We look forward to announcing further wins in this marketplace in the very near future”.