Sberbank announced an 80% internalization rate for FX transaction

According to the latest update, SberBank, the largest bank in Russia, Central and Eastern Europe, and one of the leading financial institutions worldwide, announced that it reached an 80% internalization rate for customers' FX orders.

In the past years, the bank focuses on optimizing its customer order flow in the FX market in order to maintain steady momentum. As a result of this consolidation, the Russian bank finishes 80% of customers' FX orders inside the bank, this number means 80% orders to sell or buy foreign currency was traded within the bank's internal perimeter without entering the external market. At the same time, this consolidation helps cut costs, while its customers have been given the best deals.

Alexander Zozulya, Senior Managing Director, Global Markets, Sberbank stated that its special trading algorithms ensures the high trade flow internalization rate,

"our new unique trading algorithms that helped us to create the largest pool of ruble liquidity, and thus improving the quality of customer services and increase internal liquidity."

Establishing and developing a global ruble trading platform is the primary task for Sberbank's Global Markets Department. In 2020, the bank's customer order execution achieved a 10% rise on the year basis. In other words, compared to 2019, the share of transactions where risks are covered by counter transactions without entering the external market amounted to 80% in 2020.