Eurobase Banking Solutions has won a contract to supply WestLB with its Siena e-Trader system. The market leading e-trader system will be used, initially, for multi-product Web based auto-trading and order management between the Bank and its customers and branches.
Siena e-Trader offers the Bank flexible, intuitive and configurable multi-product web browser trading functionality and strengthens Eurobase’s position as a market leader in the e-trading marketplace. An extensive range of products (including FX, MM and Derivatives) and the associated functionality supported within Eurobase’s core Siena front office application are available via e-Trader’s web browser, providing a high degree of flexibility to introduce new products and services quickly and easily to maximise revenue. Siena e-Trader will use executable streaming prices (ESP) fed from WestLB’s existing rate management system into the Siena pricing engine.
Siena e-Trader web servers use standard Siena software to handle security, communication and web-specific data management functionality. The architecture has been designed in such a way that a web user’s access has minimal impact on system performance. Standard load balancing software on the web servers can initiate additional Siena sessions to avoid constraining the number of concurrent Web users. Importantly Siena e-Trader offers true web browser functionality and customers and branches do not have to run Java applets or Com components.
Siena e-trader can be seamlessly integrated into an existing trading room infrastructure, or can be delivered with the Siena front office core application to handle the whole of the trading operation.
Frank Schmidt, Director e-Trading and IT Strategy of WestLB, commented ‘’After a thorough market analysis it was only Siena e-Trader which offered such a high degree of flexibility and ease of integration into our existing infrastructures. Using e-Trader allows us to provide part of our internal trading functionality to our clients – thereby implementing another key component of our virtual trading floor initiative.’’
David Mallinder, Head of Business Development & Sales at Eurobase Banking Solutions, commented: ‘’We are delighted that WestLB has chosen our Siena e-Trader system to support its virtual trading operation and we look forward to working closely with the Bank during the implementation ’’