360T – helping Nedbank Capital expand their e-commerce services

July 2011

Nedbank Capital is the investment banking arm of Nedbank Group, one of the four largest banking groups in South Africa. The full spectrum investment banking offering provided by the firm stretches from debt advisory and long-term project financing to equity trading and research to South African and international clients. The business, which celebrated its centenary, in London in 2006, provides extensive knowledge of and experience in, doing business in South Africa and the rest of Africa. The Nedbank London office ensures that this local knowledge is supplemented with up-to-date international and capital market expertise.

As a leader in the investment banking arena, Nedbank Capital consists of a number of divisions that together manage the structuring, lending, underwriting and trading businesses. The business seeks to provide seamless business sectors.

With this client service and growth strategy in mind Nedbank recently expanded their growing e-commerce presence utilizing 360T´s multibank TEX platform. Combined with 360T´s multibank platform for sourcing liquidity, the bank can now offer its clients a fully functional cross-product cross-region platform.

“Originally the decision to start e-trading on 360T was driven by a desire to constantly look to improve our service offering to clients, as well as sourcing better pricing, liquidity and transparency. The functionality incorporating multi-product and multi-bank environments was also unique to 360T and as such gave our business room to expand into other areas of e-trading,” said Colin Clarkson, head of Corporate Treasury Sales at Nedbank Capital.

After a rigorous selection process, Nedbank Capital selected 360T as their service provider due to the following reasons:

  • Good pricing and liquidity
  • Client demand
  • Multi product/Multi bank
  • Stability of platform
  • Independent ownership
  • STP expertise
  • Simplicity of set up and cost structure
  • Global operation and 24 hour support
  • High level of customer support and service

Stable and liquid platform

“When we selected 360T we were looking for a stable and highly liquid platform across multiple products (Forex Spot, Forward, Swap, orders and money market deposits) which would be easy to deploy and efficient in terms of Straight Through Processing (STP) and reducing traders time spent processing tickets. This project went extremely well. We have a good basket of liquidity providers and seamless straight through processing for all our traded tickets. 360T offers a streaming service and Request for Stream (RFS) which means we have the choice of environments for trading and placing orders as well as the benefit of passing this liquidity and method of trading on to our clients”, says Clarkson.

“With our market making we are constantly looking to improve our electronic service offering to clients and to deliver a client-centric approach. We knew 360T had good client penetration in the markets we were active in and was a platform we could use to utilize our reach to existing and new clients. This meant we could offer our clients multiple products across timezones and in many cases automatically priced. The flexibility was key to us, as was the effortless ability, technology-wise, to roll this out to clients and offices globally. 360T is an active part of our e-trading capabilities at Nedbank Capital’s offices and as such allows us to enhance our strategic presence as well as offer our clients the efficiencies that come from e-trading. STP is key for us and means increased efficiency and reduced operational risk for our clients and the bank”.

The Future

The future will see Nedbank Capital continue to take clients´ feedback on products offered and their resulting efficiencies. “At Nedbank Capital, we are committed to ensuring our customers feel the difference when they interact with us. This relentless focus on our customer is underpinned by our commitment to deliver a differentiated experience through the development of a series of service and channel enhancements”.