<p>ATB Financial, a Canadian financial institution and the largest public bank in North America, has onboarded
smartTrade, a France-based provider of multi-asset electronic trading
platforms, as its “client-facing foreign exchange (FX) web platform.” Both
organizations announced the development on Thursday in a joint statement.</p><p>ATB, which boasts of $59.1 billion in assets, explained that
smartTrade’s “sophisticated pre-trade, trade, post-trade and payments
workflows” meets its need for a vendor that understands forex distribution and
trading and has the required technology.</p><p>“smartTrade was able to provide a true end-to-end solution, including
connectivity to liquidity providers and support teams that can cater to the
custom needs of our client base,” Ryan Rabin, the Vice President of Banking
& Payment Solutions at ATB Financial, explained. </p><p>Rabin added that smartTrade’s experience in integrating many “book of
record providers” and payment engines helped in speeding up its onboarding into
the trading provider’s FX solution.</p><p> For his part, David Vincent, CEO and Founder of smartTrade noted that his company’s “sophisticated functionality” made it possible for ATB to cut its dependence on manual
processes. As a result of the partnership, the Alberta-based public bank has been able to “free up internal resources whilst offering
an improved service to its clients,” Vincent added.</p><p>Watch the FMLS22 session on the how trading technology is advancing.</p><p>smartTrade Sets Eyes on Expansion </p><p>Meanwhile, the partnership with ATB comes over a year after <a href=”https://www.financemagnates.com/fintech/news/smarttrade-acquires-fx-saas-provider-ticktrade/”>smartTrade acquired TickTrade Systems</a>, a Toronto-based
forex trading and payments SaaS solution provider. SmartTrade said it finalized
the acquisition last year and completed the integrations of all products and teams
globally.</p><p>Furthermore, smartTrader recently disclosed that it recorded <a href=”https://smart-trade.net/2023/01/12/smarttrade-reports-a-strong-2022-with-plans-for-further-expansion-in-2023/”>“a highly successful 2022”</a> as it expanded into
the UK, Japan, United States, Switzerland and the Nordic region. The company also said it opened a Paris office and strengthened its
executive leadership team with new hires across Europe.</p><blockquote class=”twitter-tweet”><p lang=”en” dir=”ltr”>smartTrade is delighted to report a successful 2022, during which the company has continued to build on the achievements of previous years. Read the full story: <a href=”https://t.co/paGYlG6TH2″>https://t.co/paGYlG6TH2</a> <a href=”https://t.co/WnTVnxKfL0″>pic.twitter.com/WnTVnxKfL0</a></p>— smart-trade.net (@smarttrade_tech) <a href=”https://twitter.com/smarttrade_tech/status/1613521181205839875?ref_src=twsrc%5Etfw”>January 12, 2023</a></blockquote><p>Moreover, Finance Magnates reported that the technology provider’s UK
subsidiary <a href=”https://www.financemagnates.com/forex/the-uk-arm-of-smarttrade-technologies-sees-sharp-fy22-profit-decline/”>managed to stay profitable in 2022</a> with a net profit of
£206,885 despite a challenging fiscal year. However, the subsidiary’s annual turnover went down by 4.5% year-over-year to £12.5 million during the period.</p><p>“2023 will see a strong focus on growth. With the integration of
TickTrade now complete, we have our sights set on new acquisitions as a way of
expanding both our product offering and our geographical coverage,” Vincent
noted in a recent statement.</p>
This article was written by Solomon Oladipupo at www.financemagnates.com.
