Santander Corporate & Investment Banking picks Bloomberg DLIB
Santander Corporate & Investment Banking (Santander CIB) has selected Bloomberg’s Derivatives Library (DLIB) to provide its institutional clients with an automated model for the creation of structured investment products.
Bloomberg claims that DLIB provides both Santander CIB and its buy-side counterparties with “clarity into deal characteristics”, as well as “back-testing and product life-cycle management capabilities.”
Alfredo Madrigal, European head of equity derivatives and exchange-traded derivatives (ETDs) at Santander CIB, calls the deal “key” within the bank’s strategy for balancing its position on the structured products market with the its position in the euro area by capitalisation.
DLIB allows firms to create structured products – single, cross-asset, baskets or hybrids – by providing access to pre-existing and custom templates.
The solution is integrated with Bloomberg’s suite of enterprise products, including its sell-side order management system TOMS and buy-side order management system AIM.
“We are pleased that Santander CIB has chosen to use DLIB to structure deals and provide prices to its clients in real-time,” says Karim Faraj, global head of front office derivatives at Bloomberg.
“Sell- side firms are increasingly looking for ways to extend the reach of their distribution channels for structured products.
“By adopting DLIB to calculate and distribute prices, banks are able to service their clients faster and more efficiently and buy-side firms also benefit from improved decision-making and risk management capabilities.”