The solution allows the bank’s corporate clients to run effective day-to-day FX operations.
April 04, 2019 – Refinitiv, one of the world’s largest providers of financial markets data and infrastructure, announced that it will provide Otkritie Bank a new trading solution called “Open Trade” powered by Refinitiv’s Electronic Trading system.
The new solution, integrated with the Otkritie Bank’s systems, will improve trading efficiency, save time and help clients focus on top-priority transactions. The bank’s customers and FX market players can now benefit from an extended ability to analyze current quotes and transaction logs. Furthermore, clients will be able to place orders at their own price and perform one-click conversion operations in one environment.
Antonio De Gregorio, Managing Director in Central and Eastern Europe, Russia and the CIS, Refinitiv, said: "In today’s changing markets, our focus is to offer financial institutions and banks flexible trading platforms that meet the demands of their client base. Our partnership with Otkritie Bank is an example of how we can collaborate with our clients to better leverage technology, improve internal efficiency, enhance the quality of trading capabilities, and attend to changing user demands across financial markets."
Vladimir Omelchenko, Vice President, Head of Currency and Interest Markets Department, Otkritie Bank, said: "E-Commerce is an important area in our investment business strategy. We are proud to launch Open Trade in partnership with Refinitiv. The new solution will allow us to offer clients access to more liquidity in financial market using tools that provide fast and more efficient operations."
With Electronic Trading, over 200 banks across 80 countries are already benefiting from a turnkey, next-generation e-commerce trading platform. Accessible via FXT, your single source of access to preferred FX trading venues, Electronic Trading offers a powerful suite of e-commerce products to shape, configure, and automate FX prices to customers while streamlining risk management.
Otkritie is ranked in top 10 largest financial institutions of Russia and is one of the systemically important banks. The bank has been active on the financial market since 1993; its main areas of operation are corporate, investment, retail, small and medium business, and private banking. Otkritie’s key shareholder (99.99% in share capital) is the Bank of Russia. As at February 1 2019, assets of the bank and its subsidiaries are estimated (according to IFRS) at RUB 1,8 billion¸ equity at RUB 322 billion. The regional network of banks consists of 745+ offices in 69 major regions of the country. Today, Otkritie is a large financial group with a great potential for further growth. Several leading financial services companies, such as Rosgosstrakh (insurance business), Non-state pension fund «Otkritie» (pension business), Otkritie Broker (brokerage services), Otkritie Asset Management, are part of the group.