DealHub (Option Computers Ltd) has announced that its managed price distribution service, FX Distribution Hub, has been selected by leading Danish bank, Jyske Bank, to extend and enhance distribution of the bank’s liquidity with low latency, co-located connectivity to ECN’s and other market venues.
Lene Papsoe, Head of Department FX, Interest Rates Products & eBusiness at Jyske Markets comments: “We’re committed to building a best in class eFX service to deliver our specialist liquidity to customers through multiple channels, including our own in-house developed eTrader FX. DealHub’s FX Distribution Hub will form a critical part of this infrastructure, giving us the flexibility to extend distribution to new market destinations quickly and easily, while delivering the low latency, co-located and highly resilient performance that our clients rely on”
360T and Mako FX are likely to be the first trading venues to go live with Jyske Bank pricing via FX Distribution Hub, with plans to extend to further venues in the coming months. The Hub will be integrated with the Bank’s price engine to source core pricing for onward distribution. In addition, the DealHub service will match trade fills against dedicated STP feeds of ticket confirmations from each venue to provide a single, fully reconciled STP feed back to the Bank.
Chris Leaver, COO of DealHub, comments: "We are delighted to be working with Jyske Bank, helping them extend their price distribution and meet growing demand for their specialist liquidity with our high performance, cost effective solution. Over the last year, the market has welcomed our initiative to help manage the challenges of a fast changing ECN landscape. As a result, FX Distribution Hub is now used by a rapidly growing list of banks to improve pricing performance and expand distribution, while cutting cost and complexity from internal operations.”
FX Distribution Hub manages price distribution into all major FX venues from a single interface to a Bank’s core pricing platform. Additional workflow and pricing logic can be managed by the Hub, including customer specific price margining, low latency credit checking, and comprehensive post trade connectivity and workflow. A powerful business intelligence capability provides real-time and historical feedback on pricing and infrastructure performance. The managed service is hosted in Equinix LD4 and NY4, co-located with many of the industry’s leading participants and trading venues. DealHub specialises in comprehensive integration with customer and third party systems, allowing customers to build a bespoke eCommerce solution that offers real differentiation.