Trading Apps has announced its partnership with Norway’s largest financial services group DNB, which has gone live with Trading Apps’ automated trading technology.
The initial phase of DNB’s project involved the integration of Trading Apps Inventory App and Trade Apps with DNB’s books and records system.
This stage of the project saw the installation of Trading Apps’ Benchmark App, which aims to absorb the major external market rate data sources. By incorporating DNB’s own data into Benchmark, a customisable rule base instructs the rates applied to different trades, adapting to changes in the market and saving time for traders.
The second phase brought in the Trading Apps Lender App and the firm’s Equilend Gateway
product. The Lender App replaces manual processes, consuming external messaging types,
which aims to give DNB ‘full and immediate’ access to the market.
The Lender App “gets more loans on the books at the right rates”, providing an “increase in revenue” for the institutions utilising it.
DNB has also integrated the Push Lists App into the trading suite, which publishes the
availability of securities, tailored to specific counterparties, incorporating the rules specified by the trading desk.
Trading Apps’ rules-based automation enables DNB to auto-fulfil incoming borrow requests against their own tailored pricing engine, with straight-through processing (STP) to their books and records system.
With these developments, Trading Apps explains that “traders are now managing the rules
engine to automate the majority of trades, which leaves more time for them to focus on
specialist trades”.
The aim is to enable DNB to support significant growth in trading volumes with minimum
human involvement.
DNB’s next project with Trading Apps involves the integration of the Collateral Exposure App to manage their trade exposures in real-time across different collateral types.
In a shared statement, the two firms report that DNB went live with Trading Apps automated trading technology within five months of finalising the contract. This rapid adoption was possible now that Trading Apps offers a hosted service, rather than supplying products for on-premise implementation.
Trading Apps supports their hosted products in real-time, which means they resolve and
enhance their technology for DNB with limited requirement from the bank’s own IT
departments.
