Rabobank picks SuperDerivatives FX trading toolkit
Dutch cooperative bank Rabobank has chosen tools from SuperDerivatives to help revamp its global FX trading operations.
Deploying SuperDerivatives’ SDX tools will help the bank’s sales teams in 15 international offices to communicate with traders in London, New York and Hong Kong and price, quote and execute trades quickly. The bank is also hoping that SuperDerivatives will help it to increase connectivity, drive efficiency and productivity across its whole workflow.
Representing some 500 local Dutch and international banks, Rabobank has its origin as a federation of local credit unions, focused mainly on food and agribusiness. The company is a cooperative, so it is owned by the local branches, rather than the other way round.
In the Netherlands, the Dutch central bank De Nederlandsche Bank itself allows Rabobank Group to supervise the solvency, liquidity and administrative organisation of the 500 local banks that are part of the group.
“As one of the largest financial institutions in the world, it is essential that we invest in the appropriate technology to ensure the highest levels of synergy between our sales and trading desks in offices across the globe,” said Martijn Sorber, head of corporate risk and treasury management for global financial markets at Rabobank. “SDX gives us the tools we need to enhance internal connectivity and the confidence that we can accurately price and manage a wide range of FX derivatives throughout the lifecycle of the deal.”
SuperDerivatives provides cloud-based real time market data, derivatives technology and valuation services for financial and commodity markets.
Earlier this month, Rabobank unveiled plans to open up a deposit bank in Turkey. Rabobank will be competing with Dutch rival ING, which acquired Oyakbank in 2007 and has been operating in Turkey ever since.