At Caplin we are very excited by today’s announcement that Jyske Bank has partnered with Caplin and Apama to deliver their new Single-Dealer Platform (SDP).
Jyske Bank’s Head of Department – FX, Interest rates & Commodities, Lene Papsoe, explained the reason behind the move:
“We see our eFX offering as strategically important to the growth of our business. Our new platform will mark us out as a market leader in the rapidly growing online trading market.”
By overhauling its eFX solution with this new single dealer platform Jyske Bank will provide an exceptional trading experience for its institutional clients across FX spot, forwards and swaps. The bank has selected Caplin Trader, an HTML5 front end that runs on the Caplin Platform, for end-user delivery. The Caplin solution will seamlessly integrate with Progress Software’s Apama Capital Markets Platformto provide a bird’s eye view of aggregated FX markets in real-time and perform smart order routing, real-time pricing of spot and derivatives, auto-hedging and more.
Paul Caplin, CEO, Caplin Systems summed up,
“Jyske Bank is a forward-looking organisation with a big focus on client relationships, and it is now looking to extend its outstanding client service into e-trading. By picking two highly compatible and best in class technologies Jyske bank is effectively leapfrogging its peers to provide a next-generation trading service.”
The solution replaces Jyske’s existing white label e-commerce solution and extends Jyske’s current deployment of the Progress® Apama® Capital Markets Platform for FX liquidity aggregation and smart order routing. Expected to go live in the second half of 2013, the solution will initially support some 200 institutional traders and will be rolled out to Jyske’s retail clients in due course.
This deal is typical of the increasing trend we are seeing at Caplin, where regional and tier 2 banks rather than buy or build, are favouring the hybrid-model for delivering their Single Dealer Platforms (SDPs).
Coverage by EuroMoneyFXNews here
(Full Jyske Bank Press release here)