BBVA announced a strategic partnership with Wematch.live to fully automate its equity finance infrastructure as part of expanding its equities product offerings and investing in advanced technology solutions.
Over the past few months, BBVA’s equity finance desk has worked closely with Wematch.live to streamline and digitize its operations, resulting in significant improvements in efficiency, productivity, and scalability. Some of those capabilities include:
Automatic booking of basket TRS trades: One of the key achievements of this partnership was the development of an automated process for booking basket Total Return Swap (TRS) trades from Wematch.live into BBVA’s Murex platform. Additionally, any updates or changes in the composition of basket TRSs were automatically reflected in Murex after being calculated and agreed upon through Wematch.live. This milestone was crucial in digitizing a substantial portion of BBVA Equity Finance’s daily activities.
Sales to trader workflow (STW) tool: BBVA and Wematch.live also collaborated on implementing this tool for both basket and single stock TRS. It enables BBVA to track trades from inception until expiry and facilitates seamless interactions between Sales, Traders, and Counterparties. In addition to its operational advantages, the tool also ensures compliance with regulatory requirements.
Full automation of TRS lifecycle: By leveraging the information contained in Wematch.live, BBVA now automatically sends equity cash orders for new basket TRS, rebalances, and unwinds to liquidity providers and brokers. This automation has eliminated input errors and dramatically improved booking speed.
Nicolas Allano, BBVA global head of Equities, said in a statement: “These achievements are extremely relevant for the Equity Finance Desk as they bring up the digitalization of a substantial stake of its daily activity and remarkable increases in terms of efficiency, productivity and scalability”.