This bank recently developed a new, global pricing model for foreign exchange (FX) trades. The model allows for more pricing variations and enables a much higher level of trade pricing customisation for individual investment clients. However, this required analysts to spend much more time on administrative work to define accurate pricing.
To streamline this process and allow users to easily configure and adjust FX pricing for clients — ultimately increasing trading revenue — the bank set out to build a new trade/balance sheet monitoring platform. While the bank built the back end infrastructure internally, it partnered with Avanade to develop an internal web application that seamlessly integrates with the back end to provide functionality with an optimal user experience.
Now this is live, and the client is really excited about it. We are already thinking, “what’s next”? How can we integrate, for instance, advanced analytics to make their trading even more profitable?
During the engagement, multiple modules for the client pricing web application were built that integrate with the bank’s back end components. This includes multiple highly customised configuration screens for different user groups and a variety of scenarios. For example, our team built an FX monitoring screen that allows trade managers to monitor current FX prices in the market and make appropriate adjustments, ensuring that trades are priced accurately. This module contains both static and real-time data, and maintains high levels of performance and stability.
Avanade supported the bank’s initial global rollout of the new client pricing application, which is now live and being used by trade managers. Our team is currently exploring enhancements for future phases that will help boost trade profitability.