Chinese HarbinBank joins SberCIB Terminal platform for foreign exchange transactions
Sberbank has signed an agreement with HarbinBank on the latter joining the SberCIB Terminal system (previously known as Sberbank Markets), which was created for trade operations on the financial market. HarbinBank is the first Chinese commercial financial organization to join Sberbank’s platform. HarbinBank now has access to spot, forward, and swap transactions for 35 currency pairs (including CNY/RUB).
HarbinBank is the first Chinese commercial financial organization to join our platform. Not only will this grant the bank access to Sberbank’s unique liquidity but it will also build trust and deepen the cooperation between Russia and China in the financial sector.
Senior Managing Director, Global Markets, Sberbank
Sberbank has the biggest volume of transactions on the interbank FX market of Russia, with most of them handled by SberCIB Terminal.
SberCIB Terminal customers are large companies with multiple trade operations across financial markets. The platform simplifies the management of currency risks and liquidity of a company letting it stay on top of the latest market events online. In addition to the classical monetary market tools, platform users have access to bullion transactions through unallocated bullion accounts and can negotiate individual terms for deposits and minimum required balances maturing in under three years.
SberCIB is a dedicated business segment inside the bank’s corporate investment unit, which works with the biggest customers. This line of business provides a wide range of financial solutions, from traditional lending to the mezzanine and equity financing, as well as hedging of FX, interest rate, and commodity risks, operations in financial markets with access to international platforms, investment analytics, and transaction support.