Standard Bank globalises FX Back Office with RCP Deal Web
Standard Bank has purchased Deal Web from RCP Consultants.
First Published by e-Forex News: October, 2003
Standard Bank has purchased Deal Web from RCP Consultants. The bank has centralised and outsourced its FX back office, significantly reducing costs by moving it from London to South Africa. A key technology requirement for Standard Bank is that the new back office in Johannesburg must see all FX tickets and FX dealing conversations from its traders in London. Deal Web achieves this by capturing all tickets and dealing conversations electronically from Standard Banks Reuters and EBS trading systems.
Deal Web has also allowed Standard Bank to remove a rack of noisy printers and move away from storing seven years of printout from sixteen printers. All the dealing data is made easily and securely available to the remote back office staff through the Deal Web browser-based user interface. All of Standard Banks FX trading data is now stored in Deal Web, and may be searched online to trace and resolve anomalies arising during back office processing.