BBVA partners with Wematch.live to automate its Equity Finance Infrastructure

BBVA partners with Wematch.live to fully automate Total Return Swaps Infrastructure. As part of the BBVA Equities product expansion and continuous investment in technology, the BBVA Equity Finance desk has been working with Wematch during the last few months to further automate its solutions. 

Nicolas Allano, BBVA Global Head of Equities commented how this project has led to extremely positive impacts on the BBVA Equity Finance business: “These achievements are extremely relevant for the Equity Finance Desk as they bring up the digitalization of a substantial stake of its daily activity and remarkable increases in terms of efficiency, productivity and scalability”.

BBVA and Wematch.live initially developed the automatic booking of basket Total Return Swap trades from Wematch into BBVA's Murex and the automatic update in Murex of any new composition of basket TRSs after a reshuffle calculated and agreed through Wematch.live. Working with Wematch.live, a company offering solutions digitizing workflows used by the main players in the Global Equity Finance business to manage their TRS Life Cycle as well as other aspects of their activity, facilitated the swift installation of this first milestone for BBVA. 

This was later followed by the implementation of a state of the art Sales to Trader Workflow (STW) tool for basket and single stock TRS using the Wematch.live capabilities. “Thanks to this tool, we will be able to follow any trade from inception until expiry and keep all the interactions between Sales, Traders and Counterparts. It has clear advantages from a Regulatory prospect too” commented Nicolás Allano.

Last, BBVA has also managed to achieve a degree of full automation of the whole TRS Life Cycle by automatically sending the Equity Cash orders of new basket TRS, rebalances and unwinds to the Liquidity Providers and Brokers according to the information contained in Wematch.live. As these executions are automatically fed in Murex, input errors are avoided and booking speediness has improved dramatically making it another step in BBVA’s effort to continue investing in their Equities platform as explained by Nicolás Allano, “these project is a clear example of BBVA’s efforts to strategically transform the Equity Business leveraging on Technology and with a clear focus on the manufacturing of investment products”.