Apr 30, 2013, 11:26 AM
Standard Chartered Bank emerged as the top foreign exchange bank for
Winners are nominated by Global Finance editors, industry analysts, corporate executives and technology experts, and based on criteria including transaction volumes, market share, scope of global coverage, customer service, competitive pricing and innovative technologies.
Standard Chartered's win is attributed to its clear leadership in market share for FX in Africa - no other bank in Africa covers the top African markets (in terms of
Standard Chartered also leverages technology to provide leading FX solutions: the Bank is the first to auto-quote African currencies 24 hours a day and the first to offer African currencies via executable streaming prices through its award winning e-channel solutions.
The Bank trades in all major and other exotic currencies - 30 African currencies and over 100 currencies globally - and has full capability around FX spot and forwards, FX options, interest rate swaps (
In The Gambia, Standard Chartered has an average FX volume representing 25% of the FX volume in the local market, making Standard Chartered the biggest player in the country. Standard Chartered's innovative technology platforms - including the award-winning On Line Treasury (OLT) platform - positions the Bank at the forefront of FX markets in The Gambia. As a market maker in the local currency, Standard Chartered also quotes the most competitive rates in the country.
Commenting on the win, Lamin Drammeh, Head of Wholesale Banking, Standard Chartered Bank
'In Africa and The Gambia, individuals, local and global corporates, financial institutions, development and non-government organisations alike rely on Standard Chartered for their FX needs. The Bank is a clear leader in market share and its product and service offerings in these markets," says Joseph D. Giarraputo, publisher and president of Global Finance.