Edgewater Markets stands as a precious metal and forest optimization software provider, and made an announcement on Friday. This announcement detailed that the largest lender in Peru, Banco de Crédito del Peru, or BCP, has joined Edgewater’s trading platform.
Pushing Into New Grounds
The bank will now leverage EdgeFXLatam, which was launched by Edgewater earlier this year. Through this platform, BCP will gain a customized solution for its onshore clients’ internal users, as well as global offshore market participants. EdgeFXLatam itself was designed in order to offer local Latina America-based participants streamed price technology.
Fernando Pinglo stands as the Head of Trading at BCP, and gave comment about the matter at large. He expressed the bank’s delight in this new partnership with Edgewater markets, stating that the solution they provide will be a game-changer in BCP’s financial arena.
Pinglo highlighted how BCP now provides a fully automated implementation of the proprietary pricing strategies the bank offers. This, in turn, has allowed for the bank to expand its distribution levels, with risk managers and traders alike now capable of optimizing trade flows.
A Mutually Beneficial Deal
In the press release, it’s explained that Edgewater Markets had made the hedging strategies and pricing algorithms of BCP electronic, allowing for the expansion of their distribution to various offshore counterparties.
Traders will be further provided with a veritable suite of risk and price tools by Edgewater, allowing them to augment their respective price strategies even further.
As it stands now, Edgewater markets offers its forex services to an excess of 300 institutional-level clients. The company’s offerings are best known for its forex offerings, but it also boasts a solid precious metal one, in turn.
Edgewater has had an aggressive campaign of expansion within its industry, and had recently made a partnership with oneZero as a liquidity provider just last month.
The Mandatory Kind Words
Jose-Antonio Buenaño stands as the Head of South America and Managing Director of Edgewater. In a statement, he explained that the process of pricing the NDF market effectively is about credit and technology in equal parts, highlighting that Edgewater provides both those things.
Through this, Buenaño highlighted the way his company expands the distribution capabilities regarding offshore business for his company’s clients.
Regarding the BCP partnership, Buenaño highlighted how his company’s proprietary technology and balance sheet could be leveraged in a cost-effective way, which will increase the overall efficiency of BCP’s global markets.