Standard Bank, the South African merchant bank, has purchased Deal Web, a web-based foreign exchange technology product, from RCP Consultants, the specialist software solutions provider, and gone live in just two weeks.

The bank has centralised and outsourced its FX back office, significantly reducing costs by moving it from London to South Africa. A key technology requirement for Standard Bank is that the new back office in Johannesburg must see all FX tickets and FX dealing conversations from its traders in London. RCP's Deal Web achieves this by capturing all tickets and dealing conversations electronically from Standard Bank's Reuters and EBS trading systems.