Deutsche Bank has released an enhanced version of its FXMarkets.com Web site, and has begun offering a live B2B electronic trading facility, following the success of its B2C price request dealing service.
The site, which sports a new look and feel, now co-ordinates more closely with the bank’s other Global Markets products, says Joe Noreña, head of FX e-commerce. The site was enhanced to incorporate customer feedback received since the site went live last October.
“We want our customers to see the difference between the Deutsche branded product and that of our competitors. Dealing with Deutsche means ease of use, global coverage, 24-hour operation, and now, live B2B trading,” says Noreña.
The new B2B feature, which went live in the US with its first customer on 20 June, provides clients with a continuous live price feed through the bank’s own API. The service covers spot and forwards, but options will come online at a later date. Eventually, the bank will make all of its products available in the B2B market, says Noreña.
The service is being used by exchanges/ECNs at the moment, but Noreña says it can be used for anything that requires a live, dealable price. For example, an auto exchange that “white labels” the service can show a customer in one country, comparable prices across several countries in its own home currency.
“New marketplaces are forming everyday, so this gives us access to a new set of flows and customers that we didn’t previously service,” says Noreña. “And it improves the service that we offer our customers, because it allows them to provide an FX service (such as hedging) to their end user customers.”
He adds that the bank is currently in discussions with other marketplaces to use its B2B solution.
The bank’s existing B2C service was initially concentrated in Europe (London and Germany), but has been made available in Tokyo using Cognotec’s AutoDeal Lite service, and in New York via State Street’s FX Connect.
In addition to a new look and feel, the enhanced Web site has several new tabs available on the home page. Users can now access a number of features on a wide range of currency pairs via “Hot Buttons”. By clicking on one of the currency pairs, a user can choose to view technical analysis, highs/lows, research, prices or news stories related to that currency. This eliminates the need to cull through vast amounts of data to find the latest news on a particular currency pair, says Noreña.
Another new tab called “In Brief” gives the customer a rundown of what happened overnight in the US, Asia and Europe. In addition to currency news, this section provides commentary and highs/lows on equities and bond indices as well.
Two alert features have also been added to FXMarkets.com: Rate Alerter and Content Alerter. These options allow clients to receive research and commentary (including the bank’s in-house FX newsletter) or price level alerts that pop up on any screen they are viewing. They can also choose how they wish to receive the alerts – either by email or a Web site pop-up window.
Another new feature, Deal Flow Analyser, takes advantage of the large flows the bank sees, and provides graphs for each currency pair.
In February, the bank released the first enhancement to FXMarkets.com – FX Orderbook – which is a customer FX order management system that provides online order entry and order monitoring. The electronic orderbook is available 24-hours a day, and has three main components: Order Entry, Order Monitor and Order History.