Rivkin
Following significant client growth after the global financial crisis, Australian broker Rivkin enlisted Saxo to develop a corporate app so it could upscale its advisory services.
Brokerage
30 employees
Madrid, Spain
In 2018, Rentamarkets, asset management experts within the institutional space, purchased a retail portfolio worth over EUR 500m in assets under management (AUM).
Rentamarkets was able to provide their new clients with a deep knowledge of the markets thanks to their unparalleled analysis abilities and their tailor-made asset management solutions.
Challenge: Offer a diverse retail solution to support their existing institutional model
Rentamarkets required a trading platform to cater for its new retail clients. However, the portfolio consisted mostly of investors taking mid- to long-term positions on stocks, bonds and mutual funds rather than clients trading derivatives or margin products. This meant a solution which catered primarily for contracts for difference and forex products wouldn’t suffice. And to continue servicing these end-clients, a new local custodian would be required.
To further complicate matters, the broker from whom Rentamarkets had purchased the portfolio was decommissioning its systems, meaning a solution was needed quickly
Guillermo Galey,
Chief commercial officer, RentaMarkets
Solution: In four months, Saxo built Rentamarkets a fully branded trading platform and introduced a new asset class for its clients
Rentamarkets engaged Saxo to deliver a traditional white label solution and help provide bespoke application development.
From contracts being signed to delivery, it only took Saxo five months to deliver a Rentamarkets-branded trading platform and introduce an entirely new asset class to cater for its portfolio base.
Once the platform and asset class were ready, 18,000 clients were migrated to the Saxo-powered system overnight.
And to ensure Rentamarkets could enable the security and servicing of its end-clients, a Spanish custodian and broker were onboarded into a new custody setup.
Results: 90% of AUM and 95% of the purchased portfolio successfully migrated
Rentamarkets went from having a cash product-only offering to becoming a complete end-to-end provider.
Its clients can now access 70,000+ global instruments across 25 exchanges globally. And as Saxo’s award-winning solution provides industry-leading trading and investment tools, Rentamarkets’ business has been opened up to more experienced traders. The new custodian setup allows Rentamarkets to segment its clients into three distinct categories: traders, investors and savers, and offer appropriate products to each group. Together, Rentamarkets and Saxo migrated over 90% of a portfolio – and 95% of its clients – worth over EUR 500m in just four months.
About Rentamarkets
Spanish broker Rentamarkets is a securities specialist with over 10 years’ experience within the institutional sector. By purchasing a portfolio worth more than EUR 500m in assets under management, it entered the retail space in 2018. Rather than undertaking a lengthy and costly redevelopment of its existing platform and systems to cater for this business expansion, Rentamarkets built a solution on Saxo’s open banking suite.
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