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Finastra acquires eFX trading platform provider Olfa Soft

Finastra CEO, Nadeem Syed

Finastra has acquired Olfa Soft for its FX e-trading platform for financial institutions, allowing Finastra to offer an e-trading solution for treasuries, covering distribution, position-keeping, post-trade and payments.

“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,” said Nadeem Syed, CEO at Finastra.

“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.”

Olfa Soft, based in Geneva, was advised by Investment Bank Rochefort & Associates. Its eFX trading solution is already available through Finastra FusionFabric, adding a cloud-based option for capital markets clients.

Finastra has collaborated with Olfa Soft since June 2017.  The platform, which has seen interest since, allows treasurers to manage FX positions and exposures in real-time with a single user experience. It also includes direct access to 48 liquidity providers, straight-through-processing (STP) capabilities, and thus, faster response to changing market conditions.

Read more: Finastra welcomes new fintechs into platform

“As FX markets become more competitive with trading increasingly conducted electronically, technology has to keep up with the pace and efficiency the market demands,” added Fabrice Benouaich, co-founder and CEO at Olfa Soft.

Olivier Virzi, co-founder and COO at Olfa Soft, stated that the company was very happy with the Seamless FX platform, and that it would allow Finastra them to reach Finastra’s clients, expanding Finastra’s offer.

Syed concluded: “This acquisition is a great opportunity to build on our expertise, capture significant market share in this space, and retain our position as the leading FX trading system provider. It’s a very exciting time for our treasury and capital markets business.”

Related: Finastra opens centre of banking excellence in Hong Kong’s Cyberport

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