SmartTrade Technologies a financial technology solutions firm has announced that one of its newest clients, Commerzbank Corporates & Markets, has integrated smartTrade’s (FX) Liquidity Management System into their proprietary FX platforms. The new technology aggregates liquidity from Commerzbank’s FX trading business creating a single pool of liquidity for the bank’s clients and traders.
The system uses smartTrade’s Liquidity Aggregrator to create a single pool, Liquidity Crosser for matching orders internally, Liquidity Orchestrator which manages internalisation and external routing to support best execution, and Liquidity Connect to integrate the system with external liquidity and execution venues as well as internal systems for pricing, settlement and clearing.
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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 heighten 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.”