Digitec Unveils Web-Based FX Pricing Engine
Posted by Colin Lambert. Last updated: October 11, 2022
Digitec has Launched D3 Lite, a new plug-and-play FX pricing engine offered as a Web-based SaaS solution. The firm says this enables 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 provides FX swaps, precious metals and money markets core pricing. Launched to address what Digitec says is 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.
It adds 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,” says Peer Joost, CEO of Digitec. “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, adds, “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.”