DIGITEC has launched a new order management system, D3 OMS, which automates interdealer FX swaps workflows and connects to trading venues.
D3 OMS combines position management, risk management, OMS and EMS functionality to boost workflow automation and enable traders to connect to venues and efficiently place in the interdealer FX swaps market. The system is currently connected to 360T SUN and LSEG FXforwards matching.
DIGITEC CEO Peer Joost said: “FX Swaps trading between banks and buy-side clients is already highly electronic, but the interdealer market has been slower to migrate to these channels, mainly due to the complexity of pricing along the forward curve
“For over 40 years DIGITEC has developed pricing tools for FX Swaps and we have used this expertise to build D3 OMS for traders to accurately and efficiently place orders in the interdealer market. As FX Swaps trading continues to evolve, this is a first but significant step towards automating workflows in this market.”
DIGITEC chief revenue officer (CRO) Stephan von Massenbach said: “D3 OMS enhances current workflows and allows traders to manage interdealer FX Swaps orders from a single screen. We are seeing a great deal of interest in D3 OMS among existing clients and new prospects. As a result, we expect trading venues to attract more liquidity, banks to improve their pricing and risk management, and for the FX Swaps market to grow for the benefit of all parties.”
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