Launch of e-Marketplace
Banco Santander Central Hispano SA
27 July 2000
FIVE LEADING EUROPEAN BANKS ANNOUNCE REVOLUTIONARY e-MARKETPLACE
FOR TREASURY AND CAPITAL MARKET PRODUCTS
Five of the world's leading financial institutions today announced their
intention to launch a revolutionary e-marketplace offering clients low cost
e-access to a range of Treasury and Capital Markets pre-trade, trade and
post-trade products and services. The partner institutions are Banco Santander
Central Hispano, Commerzbank AG, The Royal Bank of Scotland, SANPAOLA IMI and
Societe Generale. Launch of the electronic platform is expected by spring 2001.
Through the use of leading-edge technology, the joint venture intends to create
a secure online marketplace. Clients will have easy access to liquidity across
a wide range of Treasury and Capital Market products and services at the best
competitive price from participating banks.
Representatives from the banks said: 'The efficiencies provided to clients by
this new marketplace will enable faster and cheaper transactions, resulting in
an even greater degree of liquidity and transparency across these global
markets. The platform will be offered to all clients, from the smallest
enterprises to the largest global players. We believe that this marketplace
will be the most powerful application yet of e-commerce for Treasury and Capital
Market products.'
Existing e-offerings are either multi-products in a single bank platform, or
single products in a multi-bank platform. Five major banks teaming up to offer
clients their broad product range in one electronic platform fills this gap in
the market.
The marketplace will provide clients with a single point of access to products
and services offered by the participating banks. Clients will thus be able to
trade with any participating bank, as well as see prices, research and other
market information.
'By developing our partnership in this way, we create the opportunity to connect
the largest market share of clients and investors with the broadest range of
products and services offered online. We intend this e-marketplace to set the
standard for service, security and efficiency in the global Treasury and Capital
Markets' representatives from the banks said.
The banks will have equal shares in the new venture, which will be independently
staffed and managed to ensure an effective and timely rollout. Following launch
by spring 2001, the partners plan to expand the initial offering and develop the
platform to create even greater efficiency and innovation in all financial
markets.
Banco Santander Central Hispano is Spain's leading financial group and one of
the largest in the Eurozone by stock market capitalisation. The Bank has 30
million customers world-wide and is present in 38 countries. In Europe, it has a
unique network of strategic alliances with financial entities which are leaders
in their respective markets. One of the products of this close co-operation is
the birth of this pan-European portal. The Group also holds the leading
franchise in Latin America, where it is present in twelve countries. For more
information, please access www.bsch.es.
Commerzbank Group is one of Europe's leading universal banks. With about 1,000
branches in Germany and 70 outlets of its own in 45 other countries, Commerzbank
has total assets of more than 400bn euros and a market capitalisation of roughly
19bn euros. It functions as both a commercial and an investment bank, operating
through subsidiaries in some specialised fields, such as mortgage lending,
leasing, asset management and real estate business. It is also the majority
shareholder of comdirect bank, Europe's leading online broker. For further
information, please access www.commerzbank.com.
The Royal Bank of Scotland
The Royal Bank of Scotland is a broadly based financial services group with
operations spanning clearing banking, investment banking, financial services,
investment management and insurance, both in the UK and overseas.
COMMERZBANK Following the acquisition of NatWest earlier this year, The
Royal Bank's Treasury & Capital Markets division, NatWest Global Financial
Markets and the UK based Greenwich NatWest have been combined to create The
Royal Bank of Scotland, Financial Markets. The combined entity provides
specialist services in global foreign exchange, currency and structured
derivatives, money markets, together with a wide range of interest rate
management services to The Royal Bank of Scotland and NatWest international
corporate and institutional client base. For more information, please access
www.rbsmarkets.com
SANPAOLO IMI
SANPAOLO IMI, one of Italy's leading financial institutions, is a
multi-specialist player with core expertise in a wide range of financial
services
segments including Commercial Banking, Personal Financial Services, Large
Corporate, Public Sector Finance, Investment Banking and Merchant Banking. The
Group offers a full range of banking services to almost five million customers
at home and abroad. Domestically, the Group's franchise comprises a 1,300-strong
branch network and direct/virtual distribution channels while internationally
the Group operates through almost 80 foreign branches and representative
offices. For further information, please access www.sanpaoloimi.it
SG
SG is the corporate and investment banking arm of the Societe Generale Group.
Present in over 60 countries and with expertise in capital markets, advisory and
origination services, structured finance and commercial banking, SG builds
innovative, integrated financial solutions for its corporate, institutional and
public sector clients. In the debt, foreign exchange and money markets, SG is a
leading European player with notable strengths in origination, trading, market
making and distribution. Based on its client- centered approach and its strong
innovation and structuring capabilities, SG adapts its wide range of products
and services to meet the specific needs of issuers, corporate treasurers,
liability managers and institutional investors. For more information, please
access www.sg-ib.com
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