Experts in the institutional space, Spanish broker Rentamarkets bought a portfolio worth over EUR 500m in a bid to enter the retail market. In just four months, Saxo broke Rentamarkets into entirely new markets.
Rentamarkets quickly needed a solution to cater to a new client base
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
“The concept of partnership is fundamental in this situation. It’s not just to have a liquidity and technology provider, but someone to work together with to find a solution for the challenges we will face.”
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.
RentaMarkets’ tailored white label solution
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 30,000+ 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.
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.
Find out how Rentamarkets used our front-to-back functionality to expand its product offering
01 Client experience facilitation
- Web, mobile and tablet trading via SaxoTraderGO
- Professional-grade trading on SaxoTraderPRO
02 Execution and trading services
- Asset classes include FX, CFDs, stocks, bonds, ETFs, mutual funds
- Single cross-margin trading environment to execute orders and manage risk
- Liquidity sourced from 85 venues, multiple Tier 1 banks and ECNs
- Integration of own-flow execution through local memberships
- Market data service
- Real-time position keeping and account management
- Real-time risk and margin monitoring
- Activity log of all trading-related activity
03 Post-trade services
- Reconciliation, settlement and custody
- Automatic overnight financing
- Corporate actions processing and stock transfers
- End-of-day and real-time reporting across front-, middle- and back-office
- Collateral management and reporting
Regulatory reporting services
- Consolidated reports and end-customer statements
- MIFID II transactional reporting
- EMIR reporting
- Compliance reporting across 170 jurisdictions
04 Tech foundation
- Federated single sign-on for client authentication
- End-of-day file transfers for reporting and business intelligence
- OpenAPI services to build bespoke user experiences
- Real-time trade notifications for trade, order notifications and margin call data
Services for white label models with undisclosed end-clients
- Set up and manage client account and cash transactions in real time
- Account configuration via a client configuration management API
- Funding and cash management tools to support real-time services
- Self-directed, advisory and discretionary client set ups
- Real-time lead and client administration via SaxoTools
- Real-time back-office platform via WebConnect
- Performance dashboards to analyse clients’ behaviour
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