LatamTrade, a platform of transactional order-entry systems in Latin America, has selected Smart Trade Technologies to power a new trading platform for brokers/dealers in the Latin American financial market.
The new multi-asset trading platform will transact bonds, foreign exchange, equities securities and synthetic paper. Previously, all transactions were conducted via phone.
The project was driven by the urgent need to go electronic. Local broker/dealers needed to be competitive and take advantage of cross-asset matching technology beginning to sweep across the global financial communities, said Joseph Orozco, co-founder of LatamTrade.
The smartTrade platform has been adopted by several European and US institutions. In 2005, HSBC Global Markets chose the smartTrade system as its global order routing and auto-execution middleware for capital markets trading. In 2004, Dexia traders in 12 countries began using SmartTrade ‘Studio’, a front-end, single-screen dashboard to access an internal smartTrade Transaction Platform (STTP), creating a true internal exchange.