Payment news, January 18

Daiwa chooses liquidity management system from smartTrade

Daiwa Capital Markets has implemented a new liquidity management system provided by smartTrade Technologies. The system will provide Daiwa with advanced smart order routing and matching capabilities to deliver reduced transaction costs.

"Quick time to market was an important factor for Daiwa,” said Harry Gozlan, chief executive and founder of smartTrade Technologies, in a statement. “We are delighted to welcome Daiwa as a new customer and user of our Liquidity Management System. Working very closely with Daiwa has certainly played a big part on this project as a whole and is a further sign of smartTrade Technologies’ strong commitment to our clients and the Asian region.”

SBI and Bharti Airtel form new partnership

India’s largest commercial bank, the State Bank of India (SBI), has partnered with telecommunications company Bharti Airtel in a joint venture agreement to allow banking services to be available for the unbanked in the country.

"This will be a complete game changer, leveraging SBI’s expertise in the banking sector along with Airtel’s 150 million strong customer base of over 1.5 million retailers and distributors across India,” said Sunil Bharti Mittal, Bharti Airtel’s chairman and managing director, in a statement. “Together, we will create a scalable operation that will address the banking requirements of millions of Indians through the mobile platform.”

SBI and Bharti Airtel will offer a complete suite of banking services through the mobile platform and a network of branches and retail distribution outlets.

Patsystems wins mandate from the Vietnam Commodity Exchange

The Vietnam Commodity Exchange (VNE) has implemented a complete exchange solution from technology provider Patsystems. The exchange solution includes Patsystems’ trade matching engine, clearing and settlement platform, a pre-trade risk management module and a front-to-end execution platform.

"Patsystems is extremely pleased to be chosen as the technology provider for the VNE. We have seen a great deal of growth in Vietnam in recent times and see the country becoming a key part of Asia’s continued growth,” said Barry White, Asia-Pacific regional director at Patsystems, in a statement. “Patsystems’ scalable technology, from easily deployable front-ends to open interfaces on the back-end, will allow for seamless access to the exchange. We look forward to working with VNE to build their liquidity.”