Banca Akros Adopts Summit's ASP Service for FX Trades
Milan-based Banca Akros SpA, the investment banking arm of Banca Popolare di Milano Group, has selected Summit’s Transact ASP platform for FX cash and FX option trading, market making, and risk management activities. Summit replaces an internal FX trading application. For the two Banca Akros FX desks, Summit will support FX spot, forward, swap, option (plain vanilla and exotic), and FX future trades. Front-office traders will be furnished with real-time position management, and will employ Summit’s real-time position hedging with interest-rate products such as deposits, interest-rate swaps, and interest-rate futures. The firm will utilize Transact ASP’s real-time connections with EBS and D3000 dealing systems. Banca Akros also will use Summit’s e-Toolkit to give Microsoft Excel users the ability to directly access and employ Summit functions and calculation services within their spreadsheets.