Credit Agricole Implements Orchestrade to Overhaul Derivatives and FX Trading

French bank Credit Agricole CIB said on Tuesday that it has partnered with Orchestrade Financial Systems to modernize its technology backbone for interest rate derivatives and FX Forwards FX Forwards FX forwards are contracts occurring within the foreign exchange market where market participants lock in exchange rates for the buying or selling of a currency on a predetermined date. Sometimes known as currency forwards, FX forwards can be thought of as a customizable hedging approach.In this sense, upfront margin payments are not required and all contracts are over-the-counter (OTC) due to the decentralized nature of the foreign exchange market. Popularity of FX ForwardsFX forwards are popula FX forwards are contracts occurring within the foreign exchange market where market participants lock in exchange rates for the buying or selling of a currency on a predetermined date. Sometimes known as currency forwards, FX forwards can be thought of as a customizable hedging approach.In this sense, upfront margin payments are not required and all contracts are over-the-counter (OTC) due to the decentralized nature of the foreign exchange market. Popularity of FX ForwardsFX forwards are popula Read this Term trading operations.

To unlock the Asian market, register now to the iFX EXPO in Hong Kong

Following the implementation, Credit Agricole will benefit from robust firm-wide controls and processes as well as improved efficiency throughout its investment operations. In addition, the solution provides the bank with a real-time view of risk along with one centralized hub for all portfolio management and Compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a Read this Term activities.

Orchestrade delivers a rapidly deployed cross-asset solution for all sales, trading, risk and functions. As a result, Crédit Agricole CIB will be able to migrate all front-to-middle office processing of vanilla and structured products from two legacy platforms. The bank now runs trading and real-time risk calculations on Orchestrade for its interest rates and FX Forwards business globally.

Crédit Agricole CIB is the corporate and investment banking arm of the Credit Agricole Group, the world’s eleventh largest bank by total assets. The bank offers its clients a comprehensive range of products and services in capital markets, brokerage, investment banking, structured finance, corporate banking, and international private banking.

Thomas Spitz, Global Head of the Trading Division at Crédit Agricole CIB, commented: "Orchestrade enabled us to improve risk performance, keep up with new regulatory changes and reduce costs, while ensuring that Crédit Agricole CIB remains at the cutting edge of banking innovation. Orchestrade platform is modern and well-designed. This partnership sets a new benchmark for capital markets technology projects inside the bank, enabling us to deliver even greater value to our shareholders"

Hakim Erhili, CEO of Orchestrade, added: "Having established a track record with fund managers, it was a natural step for us to partner with an investment bank. The successful collaboration with Crédit Agricole CIB confirmed that our platform delivers unmatched performance and operational efficiency, regardless of scale."