smartTrade’s technology aggregates liquidity globally to provide a single pool of liquidity, order matching, and smart routing
Tokyo, New York, London, Paris & Aix en Provence, February 15, 2012 – smartTrade Technologies, an industry leader in cross-asset liquidity management software for banks, broker-dealers, asset managers, and large hedge funds, formally announces a support to Commerzbank on the FX technology.
The system uses smartTrade’s LiquidityAggregrator™ to create a single pool, LiquidityCrosser™ for matching orders internally, LiquidityOrchestrator™ which manages internalisation and external routing to support best execution, and LiquidityConnect™ to integrate the system with external liquidity and execution venues as well as internal systems for pricing, settlement and clearing.
Commerzbank’s internal team completed the implementation in only four months, starting in August and going live in December of 2011.
Hugh Whelan, Head of eFX Market Development and Connectivity at Commerzbank said, “smartTrade allowed us to deliver this system in a very short time window. The intuitive nature of the product combined with our proprietary systems allows us to strengthen execution and highten risk management for our clients. The system has been used for the portions of FX trading that are relatively commoditized, along with the very flexible Java APIs that are included in the product to incorporate our specialised pricing and trading functionality.”
Harry Gozlan, CEO and Founder, smartTrade Technologies said: “We are very pleased to support Commerzbank as they continue to enhance their FX offering and develop new capabilities in automated FX trading. One of Commerzbank’s essential requirements was time-to-market, and we were able to meet their needs quickly.” Gozlan continued, “Our focus is to provide clients with off-the-shelf components for the core FX trading system along with a flexible API supporting standard Java, C++ and C# code, enabling the clients’ team to focus on building in their ‘special sauce’ while keeping their intellectual property in-house.”
Commerzbank is a leading bank for private and corporate customers in Germany. With the segments Private Customers, Mittelstandsbank, Corporates & Markets, Central & Eastern Europe as well as Asset Based Finance, the Bank offers its customers an attractive product portfolio and is a strong partner for the export-oriented SME sector in Germany and worldwide. With a future total of some 1,200 branches, Commerzbank has one of the densest networks of branches among German private banks. It has around 60 sites in more than 50 countries and serves more than 14 million private clients as well as 1 million business and corporate clients worldwide. In 2010, it posted gross revenues of EUR 12.7 billion with some 59,000 employees.