Dublin's IFS has won a contract with Citigroup Private Bank to implement its new Web-enabled product MarginMan-Gate for collateralised trading. The deal follows IFS' recent $21 million acquisition of Dene and consequent MarginMan-Gate integration and release.
The integrated product will be used by the bank to automate its collateralised foreign exchange trading using the latest Internet technologies, says the company.
David Bee, Citigroup Private Bank's capital market's head, says: "As an existing MarginMan client we can take advantage of this Web-enabled newly combined product, to trade across the Web using the Gate front-end and MarginMan's risk management functionality."
The bank will initially roll out MarginMan-Gate to its collateralised trading operations in London, Zurich and New York offices with further overseas locations planned as part of a staggered release.