German state-backed bank BayernLB has integrated smartTrade’s fully hosted FX solution, LiquidityFX, to support its electronic trading business across several asset classes including foreign exchange business lines.
The new partnership will help meet BayernLB’s need for connectivity to a wide range of liquidity providers, as well as bolstering its aggregation, order routing, pricing and distribution capabilities. In addition, it provides the German lender with a credit margin module, which allows end clients to trade larger amounts and leverage their cash margin while enabling BayernLB to monitor and manage their risk coverage in real time.
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smartTrade’s LiquidityFX solution encompass several software components, designed to help FX trading services on a customized basis. It operates as a trading system that is compatible with FX Spot, forwards, contracts-for-difference (CFDs), and metals. The module will also help provide BayernLB with the LD4 matching engine and ECN connectivity for its non-bank prime products.
BayernLB is one of Germany’s top banks which is majority-owned by the state of Bavaria.
Commenting on this, Henning PRELLE, Head of FX Trading at BayernLB, said: “We chose smartTrade Technologies because they show great expertise and demonstrated flexibility to accommodate us and our clients’ needs. They have met our tight time to market constraint and have enabled us to launch our new platform according to schedule. With smartTrade, we feel we are working with a partner who will support us in our future needs and advise us on ways to extend our offering.”
David VINCENT, CEO at smartTrade Technologies, added: “We are very pleased to be working with BayernLB and increasing our footprint in Germany. We were able to leverage on our extensive MiFID 2 knowledge to quickly adapt and implement a full LiquidityFX solution for BayernLB’s internal needs as well as external requirements such as BaFin,” he concluded.