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Screenshot of a breaking news alert e-mail from Q2 2017
Russian bank Sberbank today launched a new electronic trading offering within its investment banking division. The platform is called Sberbank Markets and supports multiple asset classes and streamlines trading, trade confirmation and settlement. Sberbank claims this will lead to lower processing costs.
Sberbank Markets provides the bank’s clients with access to Sberbank’s FX liquidity, offers pricing of instruments such as FX spot and FX derivatives with quotes across major currencies in real time, the bank said. There are plans to extend the platform to include money markets, with scope for further asset classes also to be added over time.
The platform will initially be offered to Sberbank’s largest corporate clients, as well as banks and financial institutions. Later on, the bank will roll it out to medium-sized businesses and retail customers via its regional banks. Sberbank will also offer the trading platform to customers abroad in the future, the bank said.
Damian Bunce, managing director and head of electronic markets at Sberbank CIB’s Global Markets Department, said they plan to offer other online products in future.
“Sberbank Markets is a platform containing all the advantages of Sberbank CIB as one of the key market-makers on the FX market and Sberbank’s liquidity in an electronic wrapper.” Bunce said.
For more on Sberbanks Forex operations click here.