SABB launches e-platform for foreign currency
Riyadh, November 26, 2012
The Saudi British Bank (SABB), an associated company of the HSBC Group, said it has launched an innovative foreign currency portal for corporate clients to use in their foreign currency trading operations.
The online platform features market rates in real time for all major currencies on demand for clients, and the rates are offered by deal type as well, said the SABB in its statement.
To better assist users, the interface presents a deals log to track trade history that is exportable to popular corporate software.
The importance of this development in foreign exchange trading is due to its easiness of use and richness of features, the statement added.
Currency rates fluctuate in full view throughout trading hours, and eliminates the time and effort spent in interactions with traders that might be inefficient considering the fast pace of FX trading world.
SABB treasurer Saleh Al-Motawa said the bank never ceases to explore strategies to enhance its unique offerings in the market.
"The SABB FX announcement is the latest example of how we continuously innovate to meet our client demands. Foreign currency trading could be a difficult process, and we made it as efficient and effective as possible,” he added.-TradeArabia News Service
More Finance & Capital Market Stories
- Dubai ICD planning to boost $2bn loan
- CEO-elect of fraud-hit Rakbank quits
- Saudi foreign assets hit record $668.2bn
- Major trade success for BBK Brokerage
- NBAD raises convertible bond issue to $465m
- Mashreq to enhance mobile banking app
- NBK Capital exits Turkey hospital chain
- Abu Dhabi holding firm Senaat plans share sale
- Iraq Trade Bank to expand into Lebanon, Turkey
- UAE’s non-oil job, output levels surge