Technology provider Edgewater Markets announced that top tier bank Banco del Estado de Chile, owned by the Republic of Chile, has gone live on Edgewater’s new trading platform, leveraging Edgewater Markets software, EdgeFXLatam.
Founded in 2009, Edgewater Markets provides forex services to more than 350 global institutional clients, providing complete software solutions for banks, asset managers, brokers and other financial institutions to access global markets competitively and efficiently. The company utilizes technological advancements and a flexible architectural design to provide BancoEstado with a customized solution for its internal users, onshore clients and global offshore market participants.
The solution leverages The Chilean Electronic Stock Exchange’s (BEC) onshore market provider Datatec, technology provider of local forex market data and execution services in Chile. The partnership with Edgewater Markets allows clients of Datatec to automate market access, seamlessly managing risk directly with Datatec’s network of forex participants.
The platform provides Banco del Estado de Chile with customized branded solution for its clients, traders and sales teams, while preserving internal workflows, algorithms and hedging strategies. The fully automated access to Datatec’s onshore marketplace provides Banco del Estado de Chile with real-time hedging for both onshore and offshore trade flows through a fully electronic transaction platform, reducing risk and increasing distribution.
Jose-Antonio Buenaño, Managing Director and Head of South America, based out of Edgewater’s Santiago office said:
The partnership with Datatec to offer local participants proprietary trading platform is a welcome addition to the marketplace. Fully automating processes of internal systems and Datatec will bring efficiencies to not only local clients, but to global market participants. We are proud to work with both Banco del Estado de Chile and Datatec to make this happen.
Juan Carlos Spencer Ossa, CEO at Chilean Electronic Stock Exchange (BEC) commented:
We are excited to be working with Edgewater Markets to quickly and cost effectively enhance the business of our mutual clients. The automation of client specific functionality and workflow significantly enhances the integration with Datatec’s marketplace, providing a real benefit to clients such as Banco del Estado de Chile and will be a real game changer for local participants.
To read the full article, click here.