DIGITEC launches D3 Lite, a plug-and-play FX pricing engine for smaller market participants

The firm, which is also behind the D3 Multi-Asset Pricing Engine and the DIGITEC/360T Swaps Data Feed (SDF) developed in partnership with 360T.

DIGITEC is a specialist provider of FX Swaps technology and data. It has over 45 bank clients globally, including more than 50% of the Euromoney Top 50 FX trading firms.

D3 Lite automates and enhances pricing and distribution, with added auditing

The fintech’s new product, D3 Lite, is derived from DIGITEC’s enterprise-level D3 Multi-Asset Pricing Engine, a global standard for Swaps, Precious Metals and Money Markets core pricing.

D3 Lite was launched to address the growing needs of smaller market participants and allows these firms to access a pricing solution historically only available for the top global firms.

The pricing engine provides key features to automate and enhance pricing and distribution via an intuitive GUI, coupled with additional auditing functionality.

Peer Joost, CEO of DIGITEC, said: “We are already witnessing the Swap market’s rapid growth and continued evolution to a more automated and electronic market. A trend that will continue over the next few years. D3 Lite enables smaller market participants with limited internal resources to participate in that evolution and continue servicing their clients in an efficient manner.”

Stephan von Massenbach, CRO at DIGITEC, commented: “As the FX Swaps experts, we have already seen an increased demand from a large number of firms, helping them to move away from a reliance on Excel. Implementing any new system at a bank is generally regarded as a big and resource-heavy project. An on-premise system requires expensive hardware, IT overheads and ongoing maintenance resources. Delivering D3 Lite as a web-based application reduces these costs and the time taken for clients to go live. Our first D3 Lite clients have already been onboarded.”

DIGITEC moved to London

DIGITEC has recently opened its London office with the aim to get closer to its London-based bank clients and prospects as the City offers access to many regional FICC trading hubs.

DIGITEC appointed four new employees in London as the FX Swaps and NDF pricing and data provider makes moves to expand its footprint. Reporting to Stephan von Massenbach, Chief Revenue Officer, the new hires are George Procopiou, Anil Jassi, Liudmila Artyukhina, and Ioulia Grant.

George Procopiou joins as Client and Sales Enablement Manager. George has 14 years of experience in FX and FICC Client Management, previously working at IHS Markit, Societe Generale and Anglo Irish Bank.

Anil Jassi joins as Client and Sales Enablement Manager. Anil brings 12 years of FX corporate sales experience, having worked in e-FX and FX corporate sales at Deutsche Bank and Moneycorp.

The firm plans to expand D3’s customer base from tier 2 to tier 3 and regional banks, offering them its scalable SaaS solution with simplified setup, maintenance, and costs. D3 is a leading price engine in the Foreign Exchange and Money Market, with customers among the top 100 global acting banks.