Raiffeisen Announces Partnership with Integral and AxeTrading

Raiffeisen Bank International (RBI), a leading commercial and investment bank based in Vienna, announced today that it has partnered with Integral, a well-known FX Technology Provider Technology Provider A technology provider is an individual, company, or entity that creates, render services and sells software applications or hardware. Currently, there are four types of tech providers which are as followed:Software-as-a-Service (SaaS) – Functioning as a subscription-based licensing and delivery model, SaaS is centrally hosted and may also be referred to as on-demand software. Tech Hardware – Powerful tech providers such as Apple, Oculus Rift, FitBit, and Samsung are examples of tech hardware pro A technology provider is an individual, company, or entity that creates, render services and sells software applications or hardware. Currently, there are four types of tech providers which are as followed:Software-as-a-Service (SaaS) – Functioning as a subscription-based licensing and delivery model, SaaS is centrally hosted and may also be referred to as on-demand software. Tech Hardware – Powerful tech providers such as Apple, Oculus Rift, FitBit, and Samsung are examples of tech hardware pro Read this Term, and AxeTrading, a fixed income trading software company, to boost bond trading.

According to the official announcement, RBI aims to facilitate the bank’s bond trading clients through real-time streaming of FX prices into their bond trading workflow. The bank mentioned that the recent partnership has allowed RBI to deliver faster and better pricing for their clients in local currency bonds.

RBI plans to reduce the risks associated with market-making by automatically hedging the currency exposure of the bond trade and reduce hedging costs on the back of high-quality FX Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term through the use of Integral’s BankFX pricing engine and AxeTrader's Quoting and Execution Management System (QEMS).

RBI mentioned that the new solution will help local currency bond traders in trade execution along with the management of FX risks.

Commenting on the recent announcement, Harald Müller, Head of Group Capital Markets Trading & Institutional Sales at RBI, said: “Our ability to respond fast to our clients’ requests with highly competitive pricing lies at the core of RBI’s market-making philosophy. Therefore, closing the last technical gap between Fixed Income and FX products to provide combined pricing with maximum efficiency, has been a top priority for us. Furthermore, the already available integration supports current and future digitization and automation initiatives in RBI’s Capital Markets area, on top of enhancing our current infrastructure. I am delighted to contribute to RBI’s mission of transforming continuous innovation into superior customer experience”.

Innovation

The Vienna-based bank highlighted its vision to support innovation for superior customer experience. RBI is one of the leading banks in Austria and the CEE region. The bank termed the recent partnership as a perfect fit into RBI’s mission.

“We are thrilled to support RBI to deliver an innovative trading solution to improve their market-making abilities and better serve their clients. Integral is committed to partnering with providers that share our philosophy of opening-up the institutional markets through the provision of sophisticated and highly configurable trading technology and workflow,” Harpal Sandhu, CEO of Integral said.

“It has been a pleasure working alongside Integral, the FX market leader, to deliver on RBI’s ambitious plans for growth and enhanced client service. We are part of a new generation of technology providers whose ethos and business are built around openness and interoperability,” Ralf Henke, CEO of AxeTrading mentioned in the official announcement.