Investec’s Nova FX trading platform stands out for its ability to combine a single technology core with distinctly different client journeys. Rather than forcing corporates, commercial clients and intermediaries into a standardised workflow, the platform uses common pricing, execution and control infrastructure while tailoring functionality and permissions to the way each segment operates.
That architecture supports a broad execution proposition. Nova already offered 24/7 spot and forward trading, and during the review period, swaps, time options, drawdowns and extensions were added. Clients can self-execute straightforward flows, with dealer intervention retained for transactions requiring specialist involvement. For eligible South African clients, balance of payments reporting is also available through an API, removing manual capture from part of the cross-border settlement process.
The platform also brings more of the associated workflow into one environment. For example, real-time available balances let clients see their cash position without moving between banking and trading systems.
Profile-driven permissions determine which entities, products and functionality individual users can access, while intermediaries can configure commercial margins on a point or percentage basis. A configurable real-time trade blotter gives users greater control over reporting.
Our tech team is unique in that they are actually product specialists as well
Steven Greenfield
The evidence of adoption is substantial. During Nova’s first 11 full months, trade volumes increased 138% from launch to peak and value traded rose 73%. The platform recorded 99.99% uptime.
During the review period, 20% of FX technology spending at Investec was directed towards innovation. An important part of Nova’s development model is active engagement with clients to understand and address their needs. Investec uses workshops and working groups to test proposed enhancements with users, with client feedback influencing features including margin functionality and visibility of open orders.
That approach is reinforced by an in-house technology team with detailed product knowledge. “Our tech team is unique in that they are actually product specialists as well,” says Steven Greenfield, head of technology for electronic trade execution. “Our technology and sales teams operate with a great degree of cohesion and are in client-facing meetings together, which enhances our agility and efficiency at addressing client challenges.”
The significance of Nova goes far beyond replacing manual execution with digital. Investec has built a platform in which pricing, execution, controls and post-trade processes can be adapted around different client models without fragmenting the underlying infrastructure. Its combination of measurable adoption, configurable workflows and close integration between technology and the FX business makes Nova an increasingly important part of Investec’s client proposition.
