Banco Santander expanded its global infrastructure-based FX eBooks to Latin America during the review period, efficiently utilizing liquidity across regions and optimizing pricing for clients.
Starting in 2024, eBooks in Brazil exchange liquidity with Europe and Asia, enhancing FX risk management and hedging. The approach allows automatic hedging across regions, minimizing costs and offering competitive prices. Another area of focus for Santander Brazil is deal-contingent and event-driven business growth, exemplified by Santander’s role in a significant Brazilian asset transaction. For example, the bank acted as the sole EUR/BRL hedge provider for an asset manager to help mitigate their FX exposure during a key transaction. Santander Brazil helped structure a flexible hedging strategy, showcasing its expertise in risk management and the Brazilian market.
Banco Santander's application programming interface (API) distribution in key Latin American markets has been highly successful, with over 12 client APIs in Brazil alone and a partnership with SAP for client connectivity.