In November 2021, smartTrade purchased TickTrade Systems, a Toronto-based company.
The IT company declared that in 2023, growth will be its top priority.
As its “client-facing foreign exchange (FX) online platform,” ATB Financial, a Canadian financial institution and the biggest public bank in North America, has chosen smartTrade, a French provider of multi-asset electronic trading systems. The development was disclosed on Thursday by both groups in a joint statement.
ATB, which boasts $59.1 billion in assets, stated that smartTrade’s “advanced pre-trade, trade, post-trade and payments processes” fit its need for a partner that comprehends FX distribution and trading and has the necessary technology.
The Vice President of Banking & Payment Solutions at ATB Financial, Ryan Rabin, said that smartTrade was able to offer a true end-to-end solution, including connectivity to liquidity providers and support teams that can respond to the specific demands of our customer base.
Having experience integrating numerous “book of record providers” and payment engines, according to Rabin, facilitated smartTrade’s quick onboarding into the trading provider’s FX solution.
According to David Vincent, the CEO and Founder of smartTrade, ATB was able to reduce its reliance on manual procedures thanks to the “advanced functionality” of his business. The agreement has allowed the public bank with its headquarters in Alberta to “free up internal resources while giving a superior service to its clients,” Vincent added.
smartTrade plans to expand
A year ago, smartTrade purchased TickTrade Systems, a Toronto-based developer of SaaS solutions for payments and forex trading. Now, smartTrade has partnered with ATB. According to SmartTrade, the transaction was completed last year, and all teams and products were fully integrated around the globe.
Furthermore, since it expanded into the UK, Japan, US, Switzerland, and the Nordic region, smartTrader recently revealed that it had “a tremendously successful 2022.” The business also announced the opening of an office in Paris and the addition of new members from throughout Europe to its senior leadership team.
In addition, according to Finance Magnates, the technology provider’s UK division maintained profitability in 2022 with a net profit of £206,885 despite a difficult fiscal year. However, the subsidiary’s yearly turnover decreased to £12.5 million during that time, down 4.5% from the prior year.
“Growth will be a major priority in 2023. After successfully integrating Tick-Trade, we are now looking to make further acquisitions to broaden both our product offering and our geographic reach, Vincent remarked in a recent statement.