Smart Trade Technologies, the leader in next-generation multi-asset matching solutions for the financial markets, announced today that LatamTrade, a platform of transactional order-entry systems in Latin America, selected Smart Trade to power a new trading platform for broker/dealers and their clients throughout the Latin American financial community.
The new multi-asset trading platform is currently being adapted to transact bonds, foreign exchange, equities securities and synthetic paper. Previously, all transactions were conducted via phone. Currently, local bonds and synthetic paper are being transacted on the existing platform to be followed before end of summer 2006 by foreign exchange and later equities.
"The project was driven by the urgent need to go electronic. Local broker/dealers needed to be competitive and take advantage of cross-asset matching technology beginning to sweep across the global financial communities," said Joseph Orozco, co-founder of LatamTrade, formerly head of Telequote Ltda, a leader in financial information in Bogota, Colombia.
"This is yet another example of Smart Trade being asked to deliver a multi-asset matching platform for the financial markets community, this time throughout Latin America," said Harry Gozlan, CEO and co-founder of Smart Trade.
The smartTrade platform has been adopted by several European and US institutions. In 2005, HSBC Global Markets chose the smartTrade solution as its global order routing and auto-execution middleware for capital markets trading. In 2004, Dexia traders in 12 countries began using SmartTrade Studio(TM), a front-end, an enhanced, single-screen dashboard, to access an internal smartTrade Transaction Platform (STTP), creating a true internal exchange.