DIGITEC launches D3 OMS to revolutionize interdealer FX Swaps workflows
“FX Swaps trading between banks and buy-side clients is already highly electronic, but the interdealer market has been slower to migrate to these channels, mainly due to the complexity of pricing along the forward curve. For over 40 years, DIGITEC has developed pricing tools for FX Swaps, and we have used this expertise to build D3 OMS for traders to accurately and efficiently place orders in the interdealer market.”
DIGITEC has announced the launch of D3 OMS, a new Order Management System designed to revolutionize interdealer FX Swaps workflows and seamlessly connect with trading venues, setting a new industry standard.
The provider of FX Swaps and NDF pricing and data came up with D3 OMS as an innovative amalgamation of Position Management, Risk Management, Order Management System (OMS), and Execution Management System (EMS) functionalities.
This comprehensive system is poised to automate workflow processes and empower traders to efficiently place orders within the interdealer FX Swaps market.
At its launch, D3 OMS is already connected to prominent platforms, including 360T SUN and LSEG FX Forwards Matching, with plans to expand to more venues in the near future.
Better liquidity, pricing, and risk management
The interdealer FX Swaps market has historically been less automated compared to other segments of the FX trading landscape. The complexity of pricing along the forward curve has been a key factor in this slower migration to electronic trading channels.
Recognizing this challenge, DIGITEC leveraged its four decades of experience in developing pricing tools for FX Swaps to create D3 OMS. The platform aims to provide traders with a highly accurate and efficient means of placing orders in the interdealer market, marking a significant milestone in the evolution of FX Swaps trading.
Peer Joost, CEO of DIGITEC, said: “FX Swaps trading between banks and buy-side clients is already highly electronic, but the interdealer market has been slower to migrate to these channels, mainly due to the complexity of pricing along the forward curve. For over 40 years, DIGITEC has developed pricing tools for FX Swaps, and we have used this expertise to build D3 OMS for traders to accurately and efficiently place orders in the interdealer market. As FX Swaps trading continues to evolve, this is a first but significant step towards automating workflows in this market.”
Stephan von Massenbach, CRO of DIGITEC, commented: “D3 OMS enhances current workflows and allows traders to manage interdealer FX Swaps orders from a single screen.” He further emphasized the strong interest shown by existing clients and new prospects in D3 OMS, indicating the platform’s potential to bring more liquidity to trading venues, enhance pricing and risk management for banks, and ultimately drive growth in the FX Swaps market to the benefit of all participants.
With over 40 bank clients globally, including over 50% of the Euromoney Top 50 FX trading firms, DIGITEC has firmly established itself as a specialist provider of FX Swaps technology and data.
The firm’s comprehensive range of services includes the D3 multi-asset pricing engine, D3 OMS, and award-winning data services such as the Precious Metals Data Feed (PMF) and Swaps Data Feed (SDF), developed in collaboration with 360T.