Sber has supplied quotes on interest-bearing derivative instruments for interbank trading to financial institutions, signaling the launch of SberCIB Terminal as a dedicated online platform for executing market transactions. The company’s press service confirms that this proprietary system is built to stream real-time pricing and facilitate online deal-making across the financial markets.
Over the past several years, during a period marked by rapid growth in the Russian derivatives arena, Sberbank has actively modeled a broad suite of derivative strategies to enhance liquidity and market depth. These efforts aimed to address the evolving needs of counterparties and traders amid a shifting liquidity landscape.
In the wake of the departures of Bloomberg and Refinitiv from the Russian market, financial institutions faced a pressing need for reliable quotes on derivative products. With terminal access dwindling, traders increasingly relied on direct outreach to counterparties via phone or email to obtain price information, risking delays and inconsistencies in pricing data.
The SberCIB Terminal is positioned as a solution to these challenges, delivering firm prices to Sberbank, which remains the largest participant in the over-the-counter market. The system is designed to ensure that local market participants can access timely pricing information even when global data providers are unavailable, according to the leadership of the bank.
Alexander Zozuly, who serves as Director of Sberbank’s Global Markets Department, described the core purpose of the SberCIB Terminal as providing visibility into interest-rate levels, offering information that reasonably reflects a trader’s current position, and helping users gauge where the market stands for a given product. The platform is intended to support the finalization of trades and to assist risk departments in evaluating exposure, he noted, emphasizing that timely quotes remain essential for effective risk management and deal execution.
Market observers indicate that although the pace of development has moderated after a period of rapid growth, the derivative market is continuing to expand with more participants and products. The system is designed to keep pace with this evolution, ensuring market participants can access consistent pricing and transparent assessments of market conditions.
Looking ahead, Sber has outlined a roadmap to broaden the instrument mix offered through the interbank community. By year-end, the bank plans to make available a wider set of products, including interbank loans, currency swaps, and options, reinforcing its commitment to providing comprehensive liquidity tools for the regional market. This strategic expansion aims to strengthen market resilience and support a broader array of hedging and investment needs for banks and other financial institutions. [Citation: Sber press service] [Citation: Market commentary accompanying Sber announcements]”}