NAB starXchange Released to the Market
LONDON, June 2, 2016
Lab49 and National Australia Bank (NAB) today announced a pilot NAB starXchange is being released to the market. NAB starXchange is a cutting edge, fully automated platform for pre-trade, execution and post-trade activity.
National Australia Bank (NAB) is a global financial services organisation committed to improving customer experiences through digital innovation, and making banking simpler and more efficient. That includes helping its global customer base access Australian and New Zealand financial products.
In support of this, NAB developed starXchange, the first e-trading platform with uniquely Australian knowledge. starXchange provides institutional clients with a seamless trading experience and easy access to historical trade data. Clients can trade through the platform itself or through major multi-bank platforms.
To achieve its ambition, NAB partnered with Lab49, a specialist in Capital Markets technology transformation. Both parties worked closely on designing and engineering an end-to-end solution.
NAB Executive General Manager, Fixed Income, Currencies & Commodities, Drew Bradford said: “Lab49’s commitment to success and innovation, coupled with NAB’s local knowledge and expertise has enabled us to create a ground-breaking trading solution. The effectiveness of the platform is a testament to the partnership, shared customer focus, engineering sophistication and our drive to deliver a truly excellent customer experience.”
CEO of Lab49, Luke Flemmer said: “Delivering transformational projects is complex and requires coordination of multiple bank stakeholders. Specialist partner expertise needs to align correctly with internal functions and capabilities in order to be effective. This was a very productive partnership, and we are proud to have enabled NAB’s digital innovation in a fast moving market segment.”
Lab49 is a strategy, design and technology consulting company with specialist expertise and global reach. Lab49 delivers transformative solutions to the world’s leading investment banks, asset managers, exchanges and other key market participants. Founded in New York in 2002, Lab49 now executes at global scale on its clients’ most critical technology initiatives.
About National Australia Bank (NAB)
National Australia Bank Group is a financial services organisation with over 12,700,000 customers and 42,000 people, operating more than 1,700 stores and business banking centres globally. NAB’s major financial services franchises in Australia are complemented by businesses in New Zealand, Asia, and the United Kingdom. Each of our brands is uniquely positioned, but built on a common commitment to provide customers with quality products and services, fair fees and charges, and relationships built on the principles of help, guidance and advice.