Caplin Systems, the leader in web-based trading technology, today announced that UniCredit's Markets & Investment Banking Division (MIB) has selected Caplin Trader as the basis of its new online single-dealer portal for FX trading.
Xavier Alexandre, Global Head of e-Commerce at UniCredit MIB comments: "With markets evolving so rapidly, we needed a new client connectivity platform that would enable us to rapidly improve and expand our offering, in terms of its all-environment capability, asset class and user experience. We selected Caplin for its unrivalled scalability, multi-asset capabilities and ultra rich functionality."
Caplin signed the deal with UniCredit in September 2008, ending the bank's intensive six month selection process. UniCredit plans to use Caplin Trader throughout its subsidiary, branch and client network. Caplin Trader is expected to go live at the end of 2008.
Caplin Trader is a client connectivity platform incorporating a rich internet application that allows multi-asset trading in a browser. It will enable UniCredit to offer sophisticated online pricing and trading functionality direct to its customers. The advanced drag-and-drop front-end creates a compelling user experience, and the configurable trade model enables institutions to roll out new products quickly and simply.
The fact that Caplin Trader can be accessed from any standard web browser, with nothing to install and no changes to security settings or firewalls, will allow UniCredit to reach the largest possible customer base. Caplin Trader's highly scalable architecture will enable UniCredit to handle unlimited levels of customer demand with ease.
Paul Caplin adds: "In these challenging times, it is essential that banks streamline operations and gain efficiencies. With Caplin Trader, UniCredit can lower the cost of transactions and at the same time enhance client relationships through its single-dealer portal. The fact that one of Europe's pre-eminent banks has joined our client base is a welcome endorsement of the benefits of this strategy."
Caplin's technology serves over 80,000 end-users in top tier financial institutions such as Citigroup, BNP Paribas, Merrill Lynch, Royal Bank of Scotland, UBS, Royal Bank of Canada and ABN Amro.