Deutsche added new option functionality to its autobahnFX platform last weekend. These include an expiry blotter that lets clients exercise/expire all of their positions online. Deutsche says that it now benchmarks these against a fix, which it says reduces user workload by automating much of the process. The bank has also added functionality in its option streaming window, plus more currency pairs, including USD/TRY.
There was some talk of a few glitches with the functionality when it went live on Monday. Ian O’Flaherty managing director, global head of FX e-commerce at Deutsche says these have now been smoothed out. “As you say, with things that are new, you can get issues. When we opened up on Monday morning, our pricer got stuck on non-London spreads. We had to bring the system down for an hour, but all is fine now.”
O’Flaherty says initial feedback has been good. “Clients love the expiry blotter and I feel it differentiates us again. We have put a lot of effort into our options module this year and we are getting strong take-up; it has great growth potential,” he concludes.