Bridge eMarkets has signed a global distribution deal with Australian software house Velocity Systems International, a developer of Internet-based foreign exchange and money market transaction applications.
Through the agreement, Bridge eMarkets will offer a private-labelled version of V-FX/FX Trader, VSI's flagship Internet-based solution which enables bank treasury departments to price, execute, confirm and manage foreign exchange trading with their customers and branch offices. The idea is to marry the Velocity package with Bridge news and distribution to create a turnkey ASP service for regional banks.
The two companies say they have been collaborating for the past six months and have already jointly secured new clients.
"Both parties wanted to ensure an absolutely solid and practical operational framework, so we tested it together. The collaboration has worked beautifully in two regions and brought more than a dozen people from each company into close working contact," says David Rutter, CEO of Bridge eMarkets.
"We see an ASP-style offering, powered by Velocity, as a natural fit for the regional bank sector globally and an integral element of our broader distribution strategy going forward," adds Velocity CEO Jim Nuzum.