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November 19th, 2020 - Edgewater Markets has announced today that top tier bank Banco de Crédito del Perú (BCP), the largest bank and supplier of integrated financial services in Peru, has gone live on Edgewater’s new trading platform, leveraging Edgewater Markets proprietary software, EdgeFXLatam.
Edgewater Markets has adapted its proprietary technology to provide Banco de Crédito del Perú a customised solution for its internal users, onshore clients, and global offshore market participants.
Edgewater Markets has provided BCP with a bespoke pricing engine, fully electronifying the banks pricing algorithms and hedging strategies, expanding their distribution into the global NDF marketplace. The solution accesses the banks proprietary onshore real-time electronic pricing sources and forward interest rate curve, allowing BCP to fully automate NDF pricing. In addition, traders manage pricing and risk through a custom built HTML5 visual representation of the algorithmic pricing, providing traders with a suite of pricing and risk tools to further augment the pricing strategies.
Fernando Pinglo, Head of Sales and Trading at BCP. commented, “We are delighted to partner with Edgewater Markets. The customised solution they have delivered has been a real game changer for us. Providing a fully automated implementation of our proprietary pricing strategies, has allowed our traders and risk managers to optimise trade flows and further expand our distribution.”
The solution utilises Edgewater’s executions services, allowing Banco de Crédito del Perú to expand its distribution with offshore counterparties. Leveraging Edgewater’s credit relationships, BCP can now efficiently, and cost effectively, access the Global Marketplace. In addition, the solution applies Edgewater’s automated Switch Bank workflow, providing direct credit access to difficult to reach counterparties.
Jose-Antonio Buenaño, Edgewater’s Managing Director and Head of South America added, "Effectively pricing the NDF marketplace is as much about technology as it is about credit. And Edgewater Markets provides both. Significantly expanding our clients distribution capabilities offshore. Fully partnering with Banco de Crédito del Perú, allows them to cost effectively leverage both our proprietary technology and balance sheet, to make the global markets more efficient. We are very excited to partner with BCP.”
Last month, Edgewater announced that it had signed up Banco Del Estado de Chile to its EdgeFXLatAm platform.
