SocGen deploys DealHub for eFX price distribution

Source: DealHub

The DealHub Connectivity Manager solution supplied by Option Computers Ltd (OCL) provides a low latency price distribution backbone servicing SGCIB customers across the Bank's newly launched Alpha FX platform, FIX API and multi-bank ECNs.

The DealHub Connectivity Manager responds to Request for Quote and Price Streaming of FX Spot, Forward, Swaps and NDFs by sourcing rates from the Bank's pricing engine. The Alpha FX platform is integrated via DealHub's Single Bank Platform Gateway acting as the Bank's own ECN by handling user entitlements, providing support for orders and sending blotter information to the client.

The Connectivity Manager is fully integrated with the Bank's pricing, margin, credit, order management and risk management systems and provides latency and Business Activity Monitoring metrics for reporting within DealHub and other Bank systems. DealHub normalises pre and post-trade events from all the Bank's integrated venues to form common workflow queues for efficient onward Straight Through Processing.

Stephane Malrait, Global Head of eCommerce FICC at SGCIB said "It was important to select a high performance price distribution system capable of meeting the Bank's requirements for high throughput, availability and scalability. The DealHub solution supports us in growing our volumes and meeting the increasing demand for our eFX services".

Peter Kriskinans, Managing Director of OCL commented "We are delighted to have delivered a DealHub solution to manage such a crucial area of the Banks eCommerce business and provide the backbone for FX price distribution. We are seeing a marked increase in the number of banks and financial institutions wishing to either implement new or replace legacy e-FX trading infrastructure. We are certain our DealHub suite now provides the optimal mix of proven performance, functionality and scalability to meet their demands".

DealHub will be announcing a number of additional project wins for its product suite in the eFX and eCommerce space in the coming months.

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