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Instimatch Global Partners with Eiger to Deliver a Fully Automated Trade Workflow for Sharia’a Compliant Transactions
London – 5 May 2021
Instimatch Global (‘Instimatch’), an international digital network for institutional money market lending, has signed a partnership agreement with Eiger Trading Advisors Limited (‘Eiger’), a leading financial technology company specialising in commodity Murabaha trade facilitation and execution services, to offer financial institutions a fully integrated trading workflow for Sharia’a-compliant transactions.
Daniel Sandmeier, CEO at Instimatch Global, explained that Instimatch Global is paving the way to reinvent conventional ways in which money markets operate. He added that “…Instimatch offers more visibility, transparency and efficiency, enabling users to function more efficiently and effectively. The Network also empowers users to better manage risk, by enabling them to diversify their lending portfolios and sources of cash.”
The partnership provides global money-market borrowers and lenders with a collaborative value proposition for Sharia’a-compliant transactions; end-to-end Islamic trading which is fully automated through straight-through processing.
For Instimatch Global, the integration of the Eiger Trading Platform and its innovative technology provides access to Sharia’a-compliant assets and trade structuring services which ensures seamless trade execution and post-trade automation.
Abdullah Al-Ghanim, Head of MENA at Instimatch Global said “…we are pleased with this new strategic partnership with Eiger which enables us to leverage their platform and enhance our offering to deliver a single integrated solution for our customers. Besides the integration with the Eiger Platform, we are also very proud to announce the successful completion of the first ever digital end-to-end Murabaha transaction involving Warba Bank and Burgan Bank in Kuwait”.
The Eiger Trading Platform is a world-class, market-leading financial technology that provides the Islamic financial market with real-time trading of Shariah-compliant physical commodities, via a secure digital platform and APIs which enable open-banking and digital transformation.
“We are delighted to support Instimatch Global with the launch of their new inter-bank money market deal-matching platform for Sharia’a compliant transactions,” said Eiger CEO Stephen Openshaw. “We believe in encouraging the technological innovation and evolution of the Islamic Finance industry and we feel that the Eiger Trading Platform will bring the necessary technology to their innovative platform. This is, we hope, the start of a successful relationship and this alliance further demonstrates Eiger’s continued commitment to being first in our peer group for process automation.”
About Instimatch Global
Instimatch Global is an award-winning digital Platform for trading cash deposits across multiple geographies, sectors, and currencies, offering unparalleled market depth.
The digital Network enables a global community of institutional borrowers and lenders, including banks, corporations, pension funds, asset managers, family offices, insurance companies, municipalities, etc., to directly engage with each other and execute on their liquidity needs – all within our convenient and easy to use Platform. Besides trading, users can also leverage the Network to make valuable trading connections, diversifying their lending portfolios and sources of liquidity.
Instimatch operates out of Zurich, London and Doha, and currently has over 150 institutional clients across 21 jurisdictions.
For further information contact firstname.lastname@example.org
About Eiger Trading Advisors Limited
Incorporated in 2009, Eiger Trading Advisors Ltd (“Eiger”) is a UK-based financial technology firm providing commodity trade facilitation and execution services to the Islamic financial marketplace through an award-winning online commodity trading platform called the Eiger Trading Platform. The Eiger Trading Platform provides real-time support to the Sharia’a-compliant banking products of Islamic financial institutions. We specialise in working closely with all of its clients to support their digitalisation objectives; the automation in the execution and processing of commodity-backed Islamic transactions and providing customers with digital solutions. Over the past decade, the platform has evolved and continues to be the most technologically advanced and flexible Sharia’a-compliant commodity Murabaha trading platform on the market.
Could you provide some background to your experience within the Islamic markets? I have been involved with the Middle East banking sector since 1977, moving
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