smartTrade's FX Technology Supports Commerzbank

LONDON & PARIS & AIX EN PROVENCE--(BUSINESS WIRE)--smartTrade Technologies today 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 global FX trading business creating a single global pool of liquidity for the bank’s clients and traders.

“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.”

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.

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 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.”

About smartTrade Technologies

Founded in 1999, smartTrade provides sophisticated liquidity management systems, enabling banks to develop multi-asset dealing platforms that aggregate liquidity from dozens of sources to create a single order book, distribute customized pricing to clients, receive and manage client order flow, internalize liquidity and/or route it to external venues while managing state throughout the order lifecycle, implement smart order routing using proprietary algorithms, and connect electronically to any number of venues regardless of messaging protocols. The system handles multiple asset classes and is in production globally supporting foreign exchange, fixed income, equities, rates, and many other instrument types.

About Commerzbank

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.

For more information, visit www.smart-trade.net.