New York based FX industry technology provider Edgewater Markets has announced that top tier bank Banco de Crédito del Perú (BCP) has gone live on Edgewater’s new trading platform, leveraging Edgewater Markets proprietary software, EdgeFXLatam.
BCP is the largest bank and supplier of integrated financial services in Peru.
Edgewater Markets stated that it has adapted its proprietary technology to provide Banco de Crédito del Perú with a customized solution for its internal users, onshore clients, and global offshore market participants.Edgewater Markets has provided BCP with a bespoke pricing engine, fully electronifying the bank’s pricing algorithms and hedging strategies, expanding their distribution into the global NDF marketplace. The solution access’ the banks proprietary onshore real-time electronic pricing sources and forward interest rate curve, allowing BCP to fully automate NDF pricing.
In addition, traders manage pricing and risk through a custom built HTML5 visual representation of the algorithmic pricing, providing traders with a suite of pricing and risk tools to further augment the pricing strategies.
“We are delighted to partner with Edgewater Markets. The customized solution they have delivered has been a real game changer for us,” comments Fernando Pinglo, Head of Trading at BCP. “Providing a fully automated implementation of our proprietary pricing strategies, has allowed our traders and risk managers to optimize trade flows and further expand our distribution.”
The solution utilizes Edgewater’s executions services, allowing Banco de Crédito del Perú to expand its distribution with offshore counterparties. Leveraging Edgewater’s credit relationships, BCP can now efficiently, and cost effectively, access the Global Marketplace. In addition, the solution applies Edgewater’s automated Switch Bank workflow, providing direct credit access to difficult to reach counterparties.
“Effectively pricing the NDF marketplace is as much about technology as it is about credit. And Edgewater Markets provides both. Significantly expanding our clients distribution capabilities offshore,” comments Jose-Antonio Buenaño, Edgewater’s Managing Director and Head of South America. “Fully partnering with Banco de Crédito del Perú, allows them to cost effectively leverage both our proprietary technology and balance sheet, to make the global markets more efficient. We are very excited to partner with BCP.”
Edgewater Markets is a global leader in technology driven multi asset electronic trading solutions to the institutional market. It provides complete software solutions for banks, asset managers, and other financial institutions that optimize their trading, and competitively and efficiently access the global markets. The company’s suite of trading platforms, including EdgeFX.Pro and EdgeFXLatam, combine local market expertise with connectivity to the deepest and most diverse liquidity providers globally. Edgewater provides consistently competitive pricing for Spot, Swaps, Forwards, NDFs, Metals, and Digital Assets, and can be accessed over multiple channels (UI, API, WL, and third-party platforms).