Deutsche Bank’s FX business continues to grow.
Spot market share has increased by 13% over the review period, while the bank’s electronic trading business – designed to deliver low market impact liquidity to clients – increased in volume by 42% year on year, compared with an overall market increase of 26%.
Client total option notional increased 47% in 2022, compared with a 16% rise in market-wide volumes registered at swap data repositories. E-swaps volumes are up 20% year on year, against an overall market increase of 11%, while overall revenue for e-forwards and e-swaps has increased by 250%.
“We now offer principal resting orders [PROs] for spot FX, enabling clients to passively interact with our liquidity pool to reduce spread costs,” explains David Leigh, head of European FX. “More than 10% of our spot volume now comes through PROs.”
Last year, Deutsche further enhanced its electronic offering by combining its award-winning platform, AOS, which is used to design and execute structured forwards, with its main ABFX2 platform, to create the next generation of autobahn FX – ABFX3.