Sber launches Sber POOL, an interbank conversion solution on SberCIB Terminal
Banks have been allowed to use interbank FX market liquidity on SberCIB Terminal, a popular trading platform, which means that participants can carry out conversion transactions amid the stock market‘s limited opportunities.
Banks can independently place orders to sell and buy foreign currency and track the execution of orders in SberCIB Terminal’s new section for interbank conversion, SberPOOL. It already accumulates liquidity from Sber and from other market participants, with all orders displayed as depersonalized.
SberCIB Terminal-powered transactions enable flexibility when banks manage their open currency position and liquidity. An anchor market maker with sufficient liquidity, Sber acts as a counterparty to all transactions.
Alexander Zozulya, director, Global Markets, Sberbank:
Volatility persists in the FX market. Participants are adapting to the new reality as most FX transactions are going OTC. The updated functionality of SberCIB Terminal has given banks access to FX liquidity both at Sber and across other market participants to enhance the efficiency of conversion operations. This is another step to stabilize the financial market and strengthen the country’s financial security.
SberCIB Terminal is a platform with reference and analytical services for financial institutions and corporate clients facilitating online trading on financial markets. Available since 2016, the platform enables currency conversion, swap transactions, delivery and settlement forward contracts, transactions with currencies driven by various types of settlements, placement of deposits, irreducible balances and other operations. Financial institutions can conclude transactions under interbank lending agreements, sell and buy precious metals on unallocated metal accounts. A news feed integrated into the terminal means clients can stay posted on the latest events in a timely manner, while comments from trading desks and access to analytical data and forecasts from SberCIB Investment Research help evaluate their impact on the financial market. The platform has already been used by 5,000 clients, including 100+ banks from Russia and CIS countries.
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