Straight2Bank is an industry leading and award winning one-stop electronic banking channel. This fully integrated, end-to-end web-based platform provides Cash, Trade, Foreign Exchange and Securities Services via a single sign-on access, providing clients with streamlined, straight through processing of transactions that result in significant operating efficiencies and cost savings.
OLT delivers fast, automated FX prices from Standard Chartered straight to clients' desktops, providing a direct link to the bank's trading floors, delivering competitive and consistent pricing and execution. This service leverages Standard Chartered's comprehensive coverage of global FX markets supporting Spot, Forward and Swap pricing in over 100 currency pairs 24 hours a day; whilst a Shariah-compliant version of OLT allows clients to trade Islamic forwards and swaps.
Gold trading via OLT is linked to Gold accounts held at the bank's Gold Souk branch in Dubai.
Tom Roche, Global Head of eCommerce and Retail Products Group, commented 'Standard Chartered is a pioneer and innovator of financial markets solutions across Asia, Africa and the Middle East, with a continued commitment to enhance our eCommerce capabilities to address client needs. In order to meet the increasing demand for gold trading in the Middle East, we are now pleased to offer online gold trading over physical accounts whilst allowing clients to trade on a 24/6, regardless of branch operating hours.'
In addition to this electronic service, Standard Chartered will offer gold overdrafts, loans and transfers, and hedging tools such as gold options through its branch network in the UAE.
Standard Chartered plans to launch electronic trading for other precious metals in the near future, including Silver, Platinum and Palladium.
Standard Chartered Bank launches online gold trading
Corporate, SME and Institutional Clients of Standard Chartered Bank in the UAE are now able to trade physical gold accounts through On Line Treasury (OLT), Standard Chartered's comprehensive Request for Quote FX service which is integrated into Straight2Bank.
- United Arab Emirates: Monday, December 24 - 2007 at 12:10
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For more information, please contact:Patricia Bentham
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Office: +9714 5070548
About Standard Chartered - leading the way in Asia, Africa and the Middle East
Standard Chartered PLC is listed on both the London Stock Exchange and the Hong Kong Stock Exchange and is consistently ranked in the top 25 among FTSE-100 companies by market capitalisation.
Standard Chartered has a history of over 150 years in banking and is in many of the world's fastest-growing markets with an extensive global network of over 1,400 branches (including subsidiaries, associates and joint ventures) in over 50 countries in the Asia Pacific Region, South Asia, the Middle East, Africa, the United Kingdom and the Americas.
As one of the world's most international banks, Standard Chartered employs almost 60,000 people, representing over 100 nationalities, worldwide. This diversity lies at the heart of the Bank's values and supports the Bank's growth as the world increasingly becomes one market.
With strong organic growth supported by strategic alliances and acquisitions and driven by its strengths in the balance and diversity of its business, products, geography and people, Standard Chartered is well positioned in the emerging trade corridors of Asia, Africa and the Middle East.
Standard Chartered uniquely derives over 90 per cent of profits from Asia, Africa and the Middle East. Serving both Consumer and Wholesale Banking customers worldwide, the Bank combines deep local knowledge with global capability to offer a wide range of innovative products and services as well as award-winning solutions.
Trusted across its network for its standard of governance and corporate responsibility, Standard Chartered takes a long term view of the consequences of its actions to ensure that the Bank builds a sustainable business through social inclusion, environmental protection and good governance.
Standard Chartered is also committed to all its stakeholders by living its values in its approach towards managing its people, exceeding expectations of its customers, making a difference in communities and working with regulators.
Posted by Medilyn Manibo, Assistant News EditorMonday, December 24 - 2007 at 12:10 UAE local time (GMT+4)
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