ABN Amro implements SoftSolutions' XTAuctions platform in London

Source: SoftSolutions

ABN AMRO BANK N.V., London Branch has become a new adopter of SoftSolutions!XTAuctions!, a platform that allows full operations on primary issuance of Italian Government Securities.

ABN AMRO integrates it's adoption of XTAuctions! software with the RAF service (RNI Access Facility), an end to end connectivity service provided by SoftSolutions! as an alternative to the previous host-based connection to Bank of Italy.

The ABN London Trading Desk was looking for a fast, integrated and English based complete solution to enable an improved involvement, as Specialist, with Bank Of Italy Auctions. A superior user experience was also a focus point in selecting the right solution.

Loris Savasta, ABN auction specialist that took part in the selection said "As an leading actor in Italian banking market, we wanted a first-class Auction system. We found in SoftSolutions! not only this, but also a vendor that was able to react fast to our requirements and questions."

Roberto Abati, XTAuctions! Product Manager, SoftSolutions commented "We're excited that ABN chose XTAuctions. Our end-to-end bidding process control, the delivery of a modern and performing connectivity service and the effective design of the software (designed by traders) have been as important as our support services in winning new business. XTAuctions! adopter base is increasing and now ABN is our first important London-based bank."

XTAuctions! is a multi-user application that manages all kind of auctions (BOT-CTZ-CCT auctions, medium long term, re-openings for Specialists and Buy Back) issued by Italian Ministry of Economy and Finance and enables bidders to access-real time MTS/Reuters market prices and uses thorough security checks on prices and quantities.

RAF (RNI Access Facility), delivers industry-standard access to RNI Italian Auctions Circuit for XTAuctions! users. RAF is provided in partnership with Infogroup S.p.A., a well known services provider in the professional use of Internet for banking solutions.

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