Banco do Brasil selects Eurobase for front-office platform

LONDON – Eurobase has won a manadate from Banco do Brasil to integrate its Siena front-office foreign exchange trading platform into the bank’s newly acquired Oracle back-office system, Flexcube.

Banco do Brasil is set to go live with the new system in the first quarter of next year. The bank has been using the Siena front-office platform since 2004, over a back-office system provided by an undisclosed vendor. The project will provide the bank with a fully integrated, front-to-back straight-through processing platform – and is currently being implemented through the bank’s London office.

Siena Front Office is a deal capturing and processing system covering treasury products, including foreign exchange, money-market products and derivatives. Siena supports real-time positions, trade and market risk functionalities.

The vendor said it continues to see growth opportunities in emerging markets, including Asia-Pacific – but also that it has been garnering interest from European banks. Eurobase recently replaced Cognotec’s platform with Siena Rate Manager and Siena eTrader at Sydbank (FX Week, September 28, 2009).