Secure and easy onboarding for brokers and Direct Counterparties at Optiver
Optiver is a leading proprietary trading firm with over 1.600 employees in offices around the world. They are united in their commitment to providing liquidity, competitive pricing and reliable risk management. As a tech-driven trading firm, Optiver improves financial markets by providing liquidity to exchanges across the globe, making markets more efficient, transparent and stable.
Market Making is Optiver’s core trading strategy. Without Market Makers, many products may be illiquid, meaning buyers and sellers would find limited opportunities to buy or sell a product of interest.
Implement global KYC process
Optiver came to Gen25 to implement its global ‘Know Your Customer’ better known as the KYC-process, which aims to prevent illegal activities such as money laundering or fraud. The goal of the new process was that Optiver could onboard Direct Counterparties (DCPs) or brokers faster, so that the different departments are only included in the approval where needed and can focus on the more difficult and higher-risk cases. Counterparties now onboard themselves via a portal created with Salesforce Experience Cloud. In this portal they can fill in questionnaires regarding anti-money laundering, sancions, legal and midoffice.
Automated screening, data enrichment and protection
Gen25 has included an automated screening process that is facilitated by a third-party risk screening application. This process is repeated at different intervals to guarantee the protection of Optiver and its customers. We’ve also integrated an additional connector to a complete global database of companies which Optiver can use to enrich Salesforce CRM data with financial data. In this way we ensured there is a single source of truth across all departments. Salesforce shield is implemented to ensure all sensitive data is encrypted at rest. This project increases the efficiency across the compliance, risk, legal, and trading team.
The new global standard
Optiver is looking forward to adding different regions to the Salesforce blueprint Gen25 has created for the Optiver EMEA onboarding. The goal is to standardize the use of Salesforce at Optiver to the newly created outline so all regions are included and use the same KYC process globally.
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