Source: DealHub
DealHub (Option Computers Ltd) announced today that its price distribution service, FX Distribution Hub, has been selected by Commerzbank as the cornerstone of a new price distribution infrastructure, designed to enhance pricing and flexibility for clients in a fast evolving FX trading landscape.
The first venue to go live on the service will be FX Connect, followed by multiple venues in the months ahead.
DealHub's fully hosted and managed FX Distribution Hub allows Banks to price into any FX market destination from a single interface to their core pricing platform. The service will provide Commerzbank with latency optimised connectivity to their chosen venues through co-located hosting facilities.
Nick Downes, Global Head of eFX sales at Commerzbank Corporates & Markets comments: "We want to continually improve our connectivity, expanding the range of ECNs customers can use to access our liquidity. DealHub's FX Distribution Hub gives us all the benefits of co-location and optimised latency, with the ability to add new venues very rapidly. This flexibility means we can react quickly to a fast changing ECN landscape, while keeping our internal resources focused on ensuring our customers receive our best prices, wherever they want to trade."
Chris Leaver, COO of DealHub, comments: "We are delighted to add Commerzbank to our FX Distribution Hub - they join a growing list of banks, from Tier 1 price makers to regional specialists, using the service to cut the cost and time to market for multi-venue price distribution. We've spent years perfecting our trading interfaces to optimise pricing performance, taking the trouble to understand the nuances of each venue. Now our customers are taking advantage of all of this connectivity and expertise via one simple interface to the hub."
FX Distribution Hub was formally launched in November 2012, following live testing with a number of banks during the preceding six months. The service is hosted in Equinix's LD4 (London) and NY4 (New York) datacentres, co-located with many of the FX industry's leading participants and execution venues, ensuring the lowest possible latency on all pricing. Plans are in place to launch an Asian hub in the coming months. Banks wishing to retain all infrastructure in-house can instcan install a locally deployed and managed version of the Hub.