ATB Financial, a Canadian financial institution and the largest public bank in North America, has onboarded smartTrade, a France-based provider of multi-asset electronic trading platforms, as its “client-facing foreign exchange (FX) web platform.” Both organizations announced the development on Thursday in a joint statement.

ATB, which boasts of $59.1 billion in assets, explained that smartTrade’s “sophisticated pre-trade, trade, post-trade and payments workflows” meets its need for a vendor that understands forex distribution and trading and has the required technology.

“smartTrade was able to provide a true end-to-end solution, including connectivity to liquidity providers and support teams that can cater to the custom needs of our client base,” Ryan Rabin, the Vice President of Banking & Payment Solutions at ATB Financial, explained.

Rabin added that smartTrade’s experience with integrating many “book of record providers” and payment engines helped in speeding up its onboarding into the trading provider’s FX solution.

For his part, David Vincent, the CEO and Founder of smartTrade noted that his company's “sophisticated functionality” made it possible for ATB to cut its dependence on manual processes. As a result of the partnership, the Alberta-based public bank has been able to “free up internal resources whilst offering an improved service to its clients,” Vincent added.

Watch the FMLS22 session on how trading technology is advancing.

smartTrade Sets Eyes on Expansion

Meanwhile, the partnership with ATB comes over a year after smartTrade acquired TickTrade Systems, a Toronto-based forex trading and payments SaaS solution provider. SmartTrade said it finalized the acquisition last year and completed the integrations of all products and teams globally.

Furthermore, smartTrader recently disclosed that it recorded “a highly successful 2022” as it expanded into the UK, Japan, United States, Switzerland and the Nordic region. On top of that, the company said it opened an office in Paris and strengthened its executive leadership team with new hires across Europe.

smartTrade is delighted to report a successful 2022, during which the company has continued to build on the achievements of previous years. Read the full story: https://t.co/paGYlG6TH2 pic.twitter.com/WnTVnxKfL0

— smart-trade.net (@smarttrade_tech) January 12, 2023

Moreover, Finance Magnates reported that the technology provider’s UK subsidiary managed to stay profitable in 2022 with a net profit of £206,885 despite a challenging fiscal year. However, the subsidiary's annual turnover dipped by 4.5% year-over-year to £12.5 million during the period.

“2023 will see a strong focus on growth. With the integration of TickTrade now complete, we have our sights set on new acquisitions as a way of expanding both our product offering and our geographical coverage,” Vincent noted in a recent statement.