Finastra has acquired Olfa Soft SA and its foreign exchange e-trading platform for banks and financial institutions.

The deal, which marks the company’s first acquisition as Finastra, enables the firm to deliver a real-time online foreign exchange trading solution for banks’ treasury departments, covering distribution, position-keeping, post-trade and payments.

The platform provides direct access to 48 liquidity providers, while straight-through-processing (STP) capabilities in the platform mean treasurers can act faster in response to changing market conditions.

Nadeem Syed, CEO at Finastra said: “As the FX trading market shifts to automated, machine-to-machine electronic trading, it is crucial that we also evolve our solutions to stay ahead of industry developments and meet our customers’ needs. Bringing Olfa Soft into the Finastra fold enables us to provide treasurers around the world with an innovative approach to eFX trading which is unmatched in comprehensiveness in the market.”

Fabrice Benouaich, co-founder and CEO at Olfa Soft, added: “As FX markets become more competitive with trading increasingly conducted electronically, technology has to keep up with the pace and efficiency the market demands. We already know that our combined proposition works and now we’ll be able to help treasurers take eFX trading to the next level.”

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