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Belarusian currency and stock exchange, Dabrabyt Bank and SoftClub launched online currency trading

By October 11th, 2022Implementations

Now companies and individual entrepreneurs will be able to use the Bank trading terminal SC-EMPORIUM remotely and automatically execute orders for the purchase/sale of foreign currency on the exchange. There is a single Commission – 0.02%, which will not change from the transaction amount. SoftClub believes that this will not only increase the speed of transactions, but also minimize the risks associated with them.

 – SoftClub first in the Belarusian market has implemented the possibility of receiving quotes and automatic shut-off transactions, – said the head of Department of development of exchange systems, SoftClub Anna Pavilon. — Thanks to the connection via FIX/FAST API, the SC-EMPORIUM trading platform instantly executes trading transactions at the current price of the currency pair in the “click&deal” mode and generates orders directly in the exchange trading system. The developed software solution allowed to increase the speed of trade and financial transactions between banks and the exchange by tens of thousands of times!

SoftClub also notes that interaction via FIX/FAST APIs with trading systems liquidity providers enables banks to offer customers the best quotes, make trades in a fraction of a second, to mitigate fraud, operational and timing risks, to track the position of the Bank online.

According to the press release, it is expected that the innovation will reduce spreads (the difference between buying and selling) on currency pairs and companies will be able to buy/sell currency at more favorable rates.

— To understand why you need a trading platform, you need to remember that earlier banks accepted applications for the purchase/sale of currency by phone, – said the Chairman of the Board of the Bank Dabrabyt Igor Likhogrud.”Some of them still work this way. At the same time, some applications remain unanswered due to the high workload and lack of people. With the platform at the same time will be able to close thousands of applications in a matter of minutes.

Dabrabyt Bank announced the launch of the platform for currency transactions and for individuals. It is planned that this will be possible in a few months.