In what it says is a “significant milestone” for listed FX markets, 360T says Deutsche Bank has become the first bank to stream its FX futures pricing into 360T EMS. 

While the 360T EMS has for some time allowed clients wanting to put multiple banks in competition for their OTC and FX Futures trades, Deutsche Bank’s move “significantly increases the level of end-to-end automation available for clients’ off-exchange futures flow”, 360T states, adding, “automation and streaming liquidity, long the standard in spot FX, are now becoming embedded in the futures space”.

Yannick Marchal, head of workflow trading at Deutsche Bank, says, “With increasing client interest in FX futures, we are pleased to integrate Autobahn FX futures pricing onto 360T. This enables clients to receive automatic, instant prices from Deutsche Bank to their futures requests, as they already do across a wide range of OTC FX.”

Rico Milde, head of FX trading at Union Investment, adds, “We very much welcome Deutsche Bank auto-pricing FX futures requests in 360T. While the 360T platform already supports our multi-fund execution requirements for FX futures, Deutsche Bank’s auto-pricing of requests allows the full automation of our off-exchange FX futures workflows from order to execution, taking this product set to the next level.”

Observing that FX futures have already moved from being a voice market into a competitive electronic multi-dealer market, David Holcombe, head of FX futures and clearing at 360T, observes, “Deutsche Bank’s successful integration for clients to face its FX operations electronically and in scale shows how futures have now become a core part of the FX pricing and risk management stack.”

Highlighting the “growing relevance of Eurex FX futures, Tobias Rank, global product lead – FX derivatives at Eurex, says, “Hybrid market models are the ideal tool to deliver the benefits of FX clearing to the buy-side. The streaming of FX Futures prices on 360T complements the liquidity available in the Eurex orderbook while maintaining the look and feel of OTC trading. This is a crucial step in the transformation of FX markets for all market participants, and we congratulate Deutsche Bank, Union Investment and 360T who continue to pioneer in FX Futures.”