DIGITEC Launches Web-based FX Pricing Engine
New D3 Lite service enables banks and financial market participants of all sizes to access sophisticated pricing functionality for FX Swaps, NDFs and Precious Metals.
Hamburg and London, 11th October 2022 – DIGITEC, the company behind the market-leading D3 Multi-Asset Pricing Engine and the DIGITEC/360T Swaps Data Feed (SDF), today announces the launch of D3 Lite. The new plug-and-play FX pricing engine is offered as a web-based SaaS solution, enabling clients to go live within days with no coding or hardware requirements.
D3 Lite is derived from DIGITEC’s enterprise-level D3 Multi-Asset Pricing Engine, which is the global standard for Swaps, Precious Metals and Money Markets core pricing. Launched to address the growing needs of smaller market participants, D3 Lite enables these firms to access a pricing solution historically only available for the top global firms. The new pricing engine provides key features to automate and enhance pricing and distribution via an intuitive GUI, coupled with additional auditing functionality.
“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,“ says Peer Joost, CEO of DIGITEC.
“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,” says Stephan von Massenbach, CRO at DIGITEC. “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 costs and the time taken for clients to go live. Our first D3 Lite clients have already been onboarded.”
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. The firm’s market-leading services include the D3 multi-asset pricing engine and Swaps Data Feed (SDF), which is developed in partnership with 360T.
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DIGITEC is the company behind the world-leading FX, Money Market, Interest Rates and Precious Metals pricing engine D3. More than 50% of the Euromoney Top 50 FX firms use DIGITEC, running the software on a 24h basis in different trading centres globally. DIGITEC also offers Swaps Data Feed (SDF), developed in partnership with 360T. The company is headquartered in Hamburg, Germany with another office in London. www.digitec.de