In yesterday’s post about HSBC’s yet to be released new Single dealer platform, I mentioned that it might be called ‘GetRate’, which was a name I found buried deep in the guts of their annual accounts.
I had my suspicions, as ‘GetRate’ sounds like a workflow product name, not the ‘shiny’ name for a brand new multi-year, multi million pound client facing single dealer platform, although neither did the current platform HSBCNet for that matter!
Following a comment from a friend, I now understand that GetRate is a request for quote ( RFQ) offering targeted for their International commercial clients.
However, I did come across an interesting Risk.Net article, which talks about HSBC new pricing engine Evolve, which won the Risk ‘In-House System of the Year’ Award 2010, and has now been rolled out to ensure consistent pricing across multiple internal and client facing platforms.
“Evolve streamlined the pricing workflow, automating the way sales staff price, trade and book derivatives products,” adds Andreas Bouras, director, forex and precious metals derivatives pricing and distribution, at HSBC. The system is now used for most forex and precious metals derivatives transactions, with only the most complex, illiquid or unusually large trades requiring manual intervention.
Then I found this from Behance, and external brand agency, (from Feb 2011) which talks about.
HSBC required ‘Evolve’ to act as a client facing foreign exchange platform and needed a brand identity to bring it to life.
Another possibly name for the new HSBC single dealer platform?
We will find out soon enough.