Standard Bank grabs international accolades
Standard Bank received the 2016 Risk Emerging Markets Dealer of the Year Award at the prestigious Global Finance World’s Best Foreign Exchange Providers Awards Ceremony. Standard Bank was also named the 2016 Best Foreign Exchange Provider in Africa.
These awards come in the wake of a strong performance by the bank’s team in challenging market conditions. It is the fourth consecutive year that Standard Bank wins in the Africa category.
“Our insight into the nuances of the market helps to better understand and identify client requirements,” said Yolande Fourie. “Standard Bank’s Head of Global Markets. Standard Bank’s extensive footprint across Africa and its connectivity to international markets enables the bank to tap into pools of capital from across the world to boost the continent’s currency markets at a time when liquidity levels across most jurisdictions have come under threat due to weak economic conditions.”
Standard Bank operates in complex environments and these conditions have increased due to the current macro-economic conditions. A lack of liquidity in certain markets is raising the bar for dealers and investors. “In addition, dealing with a complex set of regulations and legislative frameworks across a number of different jurisdictions is challenging to investors and dealers alike,” Fourie explained.
Currency volatility is another of the risk elements increasing complexity as local currency values deteriorate. This adds a layer of complexity to what Standard Bank does, because there is a need for many companies and countries to raise hard currency funding against local currency collateral or revenue streams. “Retaining the Best Foreign Exchange Provider in Africa Award means Standard Bank has remained consistent in helping our clients realise opportunities while managing their risks even through periods of great volatility and different economic cycles,” she said.
The annual Risk Awards Ceremony identifies best practice in the risk management and derivatives markets. The Emerging Markets Dealer of the Year Award recognizes emerging market dealers that play a key role in the development of the local market. Contenders must be proven and reliable risk managers and trade a broad range of product types.