SAPHYRE

of course , but it does highlight how Saphyre ’ s strategic relationships like FXall are using the platform to harness an entirely new approach . Announced in February , the strategic alliance between Saphyre and the London Stock Exchange Group ’ s ( LSEG ) FXall business aims to digitise account onboarding for FXall clients through Saphyre ’ s AI technology .

“ In the old days , you ' d have to call up the banks to get the currency rates for different currencies ,” says Gabino . “ A platform like FXall actually draws from multiple liquidity providers to give you the best price . This is significant as it proves that Saphyre is now directly linked to trading activities , which is the breadwinning side of the business for a lot of financial institutions .”

Since that announcement , a growing number of other EMS platforms have started new formal discussions with Saphyre . Saphyre ’ s ability to serve multiple asset classes brings another value-add to its clients that was previously unmet . Traditionally , many platforms are exclusively focused on certain asset classes . If a firm wants to do a certain type of trading and processing , you have to use certain solutions associated with that asset class – creating a messy network of multiple platforms within a firm ’ s framework .

Agility is one thing that Saphyre prides itself on , and if you want an analogy , you are not going to be disappointed .

“ We move much faster than the generally accepted pace of things ,” says Stephen . “ We ' re like a speedboat doing several runs around a large cruise ship or oil tanker .”

Market forces are also , in a way , playing into the company ’ s hands – with turmoil in the US banking sector , ongoing geopolitical tensions , and inflation spiking globally , to name just a few pain points . In periods of uncertainty , technology and innovation have a serious role to play , and a solution like Saphyre could prove instrumental .

Saphyre has been nominated for numerous industry awards , and Gabino has emerged as a consequential fintech influencer .

They were nominated for Fintech of the Year by Global Custodian magazine and won the highly coveted award in May 2023 . They have also been featured by Forbes and the Wall Street Journal , while being regular faces on the cover of FinTech Magazine and keynote speakers at FinTech LIVE .

“ Saphyre quickly became the dominant player in a market that was starved of true innovation , which is very important for us ,” says Stephen . It ’ s not all plain sailing of course , and while Saphyre has grown exponentially in a short space of time , there are still challenges to overcome . The tactical solutions that Saphyre provides are plain to see in today ’ s financial environment . However , the financial industry ’ s historic aversion to adopting cutting- edge technology is also well known .

Right now , the firms that understand the strategic benefit are realising the first mover advantage . Although much of the investment being made by institutions today is focused on post-trade , Saphyre ’ s entire premise is built around the concept of solving these issues from inception , in the pre-trade first .

With significant investments made in post-trade solutions , Saphyre is trying to bridge the gap – to get leaders thinking about the pre-trade .

Stephen says there is a major opportunity to show and validate post-rate solutions using pre-trade data , and that Saphyre is working

STEPHEN ROCHE PRESIDENT & CO-FOUNDER , SAPHYRE

80 fintechmagazine . com | June 2023