FOCUS
>>> Cross-product integration
Deutsche Bank, one of the first to build an FX portal, FX on Autobahn, is still building and developing new customer services. Dirk Ward, managing director, product manager for FX on autobahn at Deutsche Bank says in the past year, the bank has focused on adding cross-product integration to the application, in response to client demand.
He says: “We have offered API connectivity, Excel uploads and FIX formats for some time, and, across the market, there is an increased usage of these different ways of accessing platforms and liquidity, whether it is through a single bank, multi-bank portal or other aggregated offerings.” Deutsche Bank also offers fixing services, as Ward says that corporate clients, and some real money managers, are interested in the convenience and transparency of a benchmarking product.
Te maturation of the e-FX market is placing more pressure on providers to offer a much higher level of customer service. “Tere’s an increasingly competitive marketplace as more providers of electronic capabilities come into the market. Excellent liquidity provision is still a critical requirement, but it’s not necessarily sufficient to get a client’s business today, so we have continually focused on providing value-added services, both pre-trade, and particularly, post-trade,” he says.
Apart from providing full STP from the bank’s platform, Deutsche Bank integrates with a number of third party providers. As Ward says, the reason for this is that an important market dynamic is customers wanting to combine their post-trade solutions from various providers, while the bank is always looking to fill gaps where it sees customer demand for third party platforms.
Ward says: “Te big challenge here is to provide a seamless and standardised post-trade environment for our customers so this year we are adding functionality to our post-trade processes to facilitate better trade modification and availability of trade information.”
He adds that for a lot of users STP starts at the pre-trade level and a good deal of their post-trade behaviour, in terms of the types of allocations used, is predetermined. “We are increasingly finding that customers want systematic solutions for their orders, and we are seeing activity in the combination of single bank liquidity with algorithmic trades on multiple platforms. While this is happening pre-trade, all of this has to be integrated consistently on a post-trade
80 | october 2011 e-FOREX
basis. Customers that trade our DMA [Direct Market Access] algos on other platforms want to be able to mix-and-match with our liquidity as well,” he adds.
Creating new workflows
Ward stresses that a lot of the work Deutsche Bank is doing happens below the waterline. In order to be able to provide something other than a one-size-fits-all solution, the back end of the bank’s system needs to be flexible enough to re-combine it for various workflows. As well, an extensive re-engineering process has taken place over the past year at Deutsche Bank to gain strong flexibility to be able to create new workflows for new clients, as quickly as possible. “Autobahn has always set the standard for single dealer platforms and throughout the years has achieved important industry firsts,” Ward continues. Te aim to always deliver best-in-class eServices led to this month’s launch of Deutsche Bank’s Autobahn App Market & Toolbar. Te Autobahn App Market provides clients with a single access point to the Bank’s electronic capital markets distribution services, spanning the full trade lifecycle.
With more complex order types and the growing use of algorithmic and fixing orders, Ward says Deutsche Bank has tried to create alternatives so that customers have the ability to control and automate the way they
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116 |
Page 117 |
Page 118 |
Page 119 |
Page 120 |
Page 121 |
Page 122 |
Page 123 |
Page 124 |
Page 125 |
Page 126 |
Page 127 |
Page 128 |
Page 129 |
Page 130 |
Page 131 |
Page 132 |
Page 133 |
Page 134 |
Page 135 |
Page 136 |
Page 137 |
Page 138 |
Page 139 |
Page 140 |
Page 141 |
Page 142 |
Page 143 |
Page 144 |
Page 145 |
Page 146 |
Page 147 |
Page 148 |
Page 149 |
Page 150 |
Page 151 |
Page 152 |
Page 153 |
Page 154 |
Page 155 |
Page 156 |
Page 157 |
Page 158 |
Page 159 |
Page 160 |
Page 161 |
Page 162 |
Page 163 |
Page 164 |
Page 165 |
Page 166 |
Page 167 |
Page 168 |
Page 169 |
Page 170 |
Page 171 |
Page 172 |
Page 173 |
Page 174 |
Page 175 |
Page 176 |
Page 177 |
Page 178 |
Page 179 |
Page 180 |
Page 181 |
Page 182 |
Page 183 |
Page 184 |
Page 185 |
Page 186 |
Page 187 |
Page 188 |
Page 189 |
Page 190 |
Page 191 |
Page 192 |
Page 193 |
Page 194 |
Page 195 |
Page 196