Caplin Systems Ltd, web trading specialist and market leader in single-dealer platform technology, today announced that the corporate and investment banking division of Standard Bank, the largest bank in Africa, has chosen Caplin to provide the framework for its new single-dealer platform (SDP).
With many of the bank's corporate and institutional clients wanting more sophisticated electronic trading and other online services, Standard Bank decided to seize the initiative and provide both its customers and its own traders with a scalable next generation web-based platform complete with prices, analysis and the ability to execute in multiple asset classes.
James Nicolson, Standard Bank's Head of eCommerce IT (Corporate and Investment Banking), said, "The growth of the internet in Africa determined that online was the only way to go, but we needed to be able to handle the diverse infrastructure capabilities of Developing and Developed markets. We evaluated several technologies but decided on Caplin Trader as it was unique in offering a cost effective solution that lets us build a high-performance robust SDP that's designed to minimise network traffic and provide excellent resilience."
The project will utilise Caplin Trader 3, Caplin's new HTML5 web trading solution that allows banks to develop sophisticated, highly differentiated online trading offerings that work across desktop and mobile platforms. The project will pull in the expertise of Caplin Professional Services and be implemented by a 12-person combined Caplin/Standard Bank team. FX and Precious Metals are planned to be the first asset classes of the multi-asset portal to be launched during 2013 and will be initially used for spot, forwards, swaps and orders.
Paul Caplin, founder and CEO of Caplin Systems, commented, "The Standard Bank project will demonstrate how a small team can use a software framework to deliver a fully functioning web trading application quickly and cost effectively. We're delighted to be working with such a prestigious client in the African financial market, and look forward to our successful collaboration."