Rabobank Rolls Out Online Foreign Exchange Trading

Foreign exchange portal for small and medium-size businesses is based on Nexaweb FX Accelerator software.

Netherlands-based Rabobank, an $800 billion asset institution specializing in the food and agriculture industries that made it onto InformationWeek's list of the top 500 technology innovators last week (it ranked at 134), has deployed an online trading portal based on FX Accelerator software from Nexaweb.

The bank’s new TransAct system is a web-based wholesale business portal that includes a real-time foreign exchange/money market deal capture system, a data management engine and streaming treasury portlets that can be customized to meet the needs of internal and external users.

“The flexibility and functionality provided by Nexaweb FX Accelerator has enabled Rabobank to improve its market share with small-to-medium sized businesses and attract new mid-cap and large-cap clients,” said Niels van Daatselaar, head of e-commerce, global financial markets at Rabobank International. “Rabobank TransAct has received positive feedback from both clients and member banks regarding its intuitive interface, high performance and advanced reporting capabilities. Rabobank was also very pleased that Nexaweb delivered TransAct within the budget and timeline that were set at the beginning the project.”

Nexaweb FX Accelerator is a set of pre-built software modules that include portlets that stream personalized market data, financial news, research, market opinions and product information to a web browser; a deal capture engine that can be tailored to fit different user profiles from inexperienced, part-time traders to professional traders; a data and pricing engine that feeds the deal capture engine and information portlets and comes with adaptors to leading financial data providers such as Bloomberg and Reuters; and a customization framework for easy integration of the solution with existing customer-facing portal technology and with existing back-office systems that handle cash management, collateral management, electronic confirmations, valuation services, real-time cash balances and others.