Deutsche adds new order functionality to Autobahn
One of my predictions this year is that the ECNs are going to face a new level of competition from the banks and a resurgent EBS.
In particular, the banks’ platforms are getting better all the time and the fact that they are commission-free appeals to many of the so-called buy side. An old argument is that the implicit cost of trading is far greater than the explicit, which is why many more cost-aware punters like to have the ability to trade on their own prices on alternative platforms.
However, that argument is increasingly being eroded. For example, Deutsche this week unveiled a new function it calls Fast Orders. This enables clients to submit and cancel take-profit orders directly from their trading screens. Their orders do not show but are matched against the streaming price in autobahnFX. Previously, clients had to manually click and trade when the stream reached their level.