TORONTO, November 21, 2019 – TickTrade Systems Inc., the Toronto based technology firm providing next generation foreign exchange trading and payments solutions for financial institutions, announced a new investment by and relationship with SVB Financial Group, the parent company of Silicon Valley Bank. TickTrade will use the investment to further its global growth strategy and develop new products and solutions.
TickTrade’s innovative FX risk management and trading platform provides tools to optimize access to FX market liquidity and distribute FX rates to SVB clients via a broad range of channels. These channels include SVB’s new online hedging and currency management platform, SVB’s Global Payment channels and major multi-dealer platforms. A full suite of FX APIs will enable real-time connectivity into SVB clients’ ERP systems and empower SVB’s fintech clients to enhance their Global Payment offering by building real-time rates and trade execution into their platforms. TickTrade’s modular architecture and responsive product development allows SVB to integrate the TickTrade platform seamlessly into its technology infrastructure.
“Our clients are going global much sooner and require best-in-class foreign exchange products and solutions to help them grow and succeed,” said Rodrigo Sanchez, Managing Director of FX and Global Banking for Silicon Valley Bank. “With the upcoming implementation of TickTrade’s platform, SVB’s FX Portal will enable clients to efficiently manage their foreign currency exposure through an enhanced, easy to use self-service interface. Our investment in and partnership with TickTrade will help SVB scale our foreign exchange offering and continue our commitment to offering our clients the leading digital platform.”
Baha Ohcebol, CEO and co-founder of TickTrade, said: “We are very pleased to introduce Silicon Valley Bank as a new client and investor. The relationship with SVB solidifies our position as a leading supplier of innovative FX trading and payments solutions to the global financial market. We look forward to working with Silicon Valley Bank to release new products, including our AI powered analytics solutions, that will serve the needs of the financial markets.”
ABOUT TICKTRADE SYSTEMS INC.
TickTrade Systems Inc is a provider of next-generation, end-to-end FX trading and payments solutions. TickTrade offers its clients a highly differentiated user experience including real time analytics and behavioral insights. TickTrade clients use our platform to provide their institutional, corporate, commercial, and retail clients a higher level of service through seamlessly integrated workflow capabilities and intelligence. TickTrade’s open and modular architecture allows easy integration with proprietary systems, significantly accelerating time-to-market, reducing costs, and increasing profitability. TickTrade currently operates in North America, Europe, and Asia, and is focused on serving its expanding global client base.
FOR MORE INFORMATION
Will Kennedy, Managing Director – Sales and Marketing
TickTrade Systems Inc.
Tel: + 1 416 –346-6942
ABOUT SVB FINANCIAL GROUP
For more than 35 years, SVB Financial Group (NASDAQ: SIVB) and its subsidiaries have helped innovative companies and their investors move bold ideas forward, fast. SVB Financial Group’s businesses, including Silicon Valley Bank, offer commercial, investment and private banking, asset management, private wealth management, brokerage and investment services and funds management services to companies in the technology, life science and healthcare, private equity and venture capital, and premium wine industries. Headquartered in Santa Clara, California, SVB Financial Group operates in centers of innovation around the world. Learn more at www.svb.com.
SVB Financial Group is the holding company for all business units and groups. ©2019 SVB Financial Group. All rights reserved. Silicon Valley Bank is the California bank subsidiary of SVB Financial Group. Silicon Valley Bank is a member of FDIC and Federal Reserve System. SVB, SVB, SVB Financial Group, Silicon Valley Bank, Make Next Happen Now and the chevron device are trademarks of SVB Financial Group, used under license.
FOR MORE INFORMATION
Eileen Nolan, Director
Silicon Valley Bank
Tel: +1 408-654-6376