Barracuda FX, a fintech company specializing in foreign exchange trading and risk management software, announced that the National Australia Bank (NAB) has rolled out its order management solution (OMS).
According to Barracuda FX, the bank chose its solution because its dedicated focus on forex order management complemented the bank’s strategy to develop its eFX environment. The new OMS would give NAB the capability to manage a single order book across its global operations and improve its operational efficiency and reduce risk.
“We’ve been impressed with the Barracuda OMS and the support and expertise of their implementation team. Everything ran smoothly, on time and within budget. We look forward to working closely together in the future,” said Mark Lawler, head of forex at NAB.
NAB is a financial services organization with nearly 13 million customers across the world. Besides Australia, it has businesses in New Zealand, Asia and the UK. Besides the standard banking services both for individuals and businesses such as loans, cards, deposits, insurance and online banking, the bank offers forex exchange services, offshore business banking, etc.
Barracuda FX was established in Ireland in 2009. The company specializes in the design and development of enterprise class forex trading and risk management software solutions, mostly for the global banking industry. Tits forex order management solution provides order lifecycle/workflow, integration with credit/margin limit systems, flexible rules engine to control manual and auto-fill strategies, auto-execution of orders against available liquidity, STP to bank’s middle/back-office, and audit trail solutions. The liquidity management services offer multi-provider market rate connectivity, price aggregation of market data across liquidity providers, real-time monitoring and administrative control over the aspects of price distribution and order processing, order execution, distributed architecture, and an open platform providing customization and integration points.