DZ Bank rolls out icubic derivatives trading technology

Source: icubic

The latest icubic solution iQderivatives for the electronic trading of derivatives on equities, commodities, indices and foreign currencies is used successfully by DZ Bank.

As an established provider of software for the electronic trading of bonds, icubic has developed an open system with which derivatives (e.g. warrants, barrier options, certificates and structured products) can be easily priced and then efficiently quoted to electronic markets.

Andreas Nold, Management icubic AG: "We are very happy that DZ BANK has further intensified our cooperation and chosen us as the professional partner beyond the area of fixed income. We always cherish the intensive thought and idea exchange with our clients. This is how we develop solutions, which meet their requirements and guarantee the best service and support offerings."

During an intensive selection process the DZ BANK decided that their requirements as a derivative issuer for price calculation and quoting of financial derivatives would not be fulfilled by any system available on the market. Positive experience from existing solutions by icubic, for example for the trading of bonds, led icubic to be chosen as ISV-Partner for the development of a high performance software solution.

Jürgen Scharnowske, department head of DZ BANK: "icubic has optimally implemented our requirements and specifications with their solution. We are convinced that the partnership with icubic will support us further in reaching our strategic goals through stabile and high performance software."

The aim of the development partnership was and still is to create a reduced work load for the trader by automating processes whilst completing tasks quicker and minimising risks. This is achieved through flexibility, scalability and an intuitive useable interface. Stock exchanges (Xetra, Eurex among others) and an internal bank application are used as sources for real time data and bond characteristic data. The openness of icubic's solution allows the simple integration into the existing system architecture.

Currently quotes for example made on T.I.Q.S (EUWAX), XQS/Scaoch (Deutsche Börse) and to data vendors via RMDS are placed.

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