October 22, 2020 - Technology provider Edgewater Markets has announced today that Banco del Estado de Chile, owned by the Republic of Chile, has gone live on Edgewater’s new trading platform, EdgeFXLatam. EdgeFXLatam is built on Edgewater's proprietary technology.
BancoEstado has been provided with a customised 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, the leading technology provider of local foreign exchange 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 foreign exchange participants.
The platform provides Banco del Estado de Chile with customised branded solution for its clients, traders, and sales teams, preserving proprietary 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 via a fully electronic transaction platform, reducing risk and increasing distribution.
“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 ,” comments Jose-Antonio Buenaño, Managing Director and Head of South America, based out of Edgewater’s Santiago office.
“We are excited to be working with Edgewater Markets to quickly and cost effectively enhance the business of our mutual clients,” comments Juan Carlos Spencer Ossa, CEO at Chilean Electronic Stock Exchange (BEC). “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.”
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