Solace Systems announced that Crédit Agricole, the world 5th largest bank by total assets has decided to implement Solace messaging appliances as the data distribution backbone as part of its continuous investment in low latency electronic trading in FX, Rates and Bonds.
The messaging appliances should be implemented on “Jetstream,” Crédit Agricole’s Investment Bank electronic FX trading platform. It is available free of charge to all Crédit Agricole Corporate and Investment Bank’s clients. However, a newer platform could be under development. Crédit Agricole was unavailable for comment.
“The electronic market landscape is evolving rapidly, and we need to service our client needs with reliable, robust, low-latency technology” said Stamos Fokianos, Global Head of eBusiness for the Global Markets Division at Crédit Agricole CIB. “After a careful study of available technologies, we found that Solace most closely matched our targets and aspirations in the eBusiness space.”
Unifying all messaging on Solace simplifies the management of the different systems and improves reliability, flexibility and scalability. Crédit Agricole CIB sees significant growth opportunities in eBusiness in its chosen segments and geographies, and uses technology as a key differentiators.
“The huge growth in electronic trading across many asset classes is creating new opportunities for many market participants,” said Craig Betts, CEO, Solace Systems. “We are very pleased to be helping Crédit Agricole CIB advance their eTrading services in Europe and other markets around the world.”