Aix-en-Provence-based technology provider smartTrade, announced today that Swiss cantonal bank Banque Cantonale Vaudoise (BCV), has rolled out a second level white-labelled FX services powered by smartTrade Technologies, to some of their clients.
BCV is a leading bank in the canton of Vaud’s for both retail and business customers, as well as one of Switzerland’s top wealth managers.
BCV has been using LiquidityFX (LFX), smartTrade’s end-to-end Foreign Exchange (FX) trading platform, for several years, according to the firm.
The platform includes functionalities such as connectivity, aggregation, order management system, distribution, risk management, post-trade and a highly customizable HTML5 user interface. BCV decided to offer its customers, smaller regional banks, a white labelling service based on LFX’s distribution modules and user interface.
smartTrade said that BCV’s customers had been looking for a sophisticated and customizable distribution solution, but the high cost to entry and limited IT resources to implement it meant this kind of solution was out of reach for them.
Business continuity through electronic trading
Thanks to BCV’s new service, their customers can now brand and distribute prices to their own customers electronically through the LFX branded GUI. The installation, maintenance and update of this solution is managed by BCV which is very convenient for their customers, especially those with little IT resources. This value-added service enables BCV to reinforce its clients’ relationships while capturing new flows.
“smartTrade’s follow-up on this project was great and allowed us to launch this new service in a timely manner. Deploying this solution to our customers was seamless as it is the same environment as the one we use. Our first client, The Banque Cantonale Neuchâteloise is live, and very pleased with this new service. Many of our customers were looking for this kind of service and within the context of COVID-19 this need is even stronger now as it allows them to ensure business continuity through electronic trading,” Eric Vauthey, head of trading at BCV, commented.
“We are delighted that BCV is a satisfied client and decided to pass on the advantages brought by our platform to their own customers. Having a customer centric approach is key to smartTrade and we understand and support our clients who want to use our solutions to bring additional value to their own clients,” David Vincent, CEO of smartTrade Technologies, said.