Deutsche Bank’s spot market share has increased by 13% over the review period, driven by innovations in electronic pricing solutions, thought leadership and a dedicated global voice-trading team that is able to keep the liquidity tap running for clients in the face of macroeconomic challenges.
The bank’s electronic trading business – which is designed to deliver low market impact liquidity to clients – increased in volume by 42% last year and has managed to maintain this strong growth trajectory across 2023 to date.
In 2021/22, Deutsche redesigned its spot client algo, now known as Stark. Stark enables clients to intelligently work orders via the bank’s client franchise and a set of curated liquidity providers, while taking liquidity in the optimal manner.
“Stark has been built using our insight and investment into research and quantitative analysis of impact, information leakage and order placement,” explains Lee Merchant, global head of spot FX. “This enables our clients to use a sophisticated proprietary alpha model and benefit from internalization, with powerful order placement logic and our incorporated PRO [principal resting order] solution.”
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