dbFX.com, Deutsche Bank’s retail online foreign exchange trading platform, announced today the success of its Managed Accounts program one year after its launch. dbFX Managed Accounts now represent 30 percent of revenue and nearly 20 percent of dbFX.com’s client base – figures that dbFX.com hopes to double by the end of 2008.
“We are excited to see the rapid and continued growth of the dbFX Managed Accounts program, and increased forex activity by our investors and their managers” said Betsy Waters, global director of dbFX.
“Over the last few months, the Forex market as a whole has been especially active resulting in increased trading volumes. This trend has also been evidenced with dbFX. During October alone, dbFX trading volumes were more than 200 percent higher than the 2008 weekly average, and our Managed Accounts program greatly contributed to this.”
Deutsche Bank research demonstrates that forex portfolios offer a low correlation to bond and equity market returns enabling investors to diversify their portfolios. This is one of the reasons so many investors are currently turning to forex.
“Through the dbFX platform, clients can easily diversify into forex. An increase in the use of dbFX Managed Accounts, combined with an increase in overall trading volumes, strongly indicates the changing role Forex will play in the markets moving forward,” Waters said.
The dbFX Managed Accounts program enables managers to trade currencies on behalf of their clients, while offering clients complete transparency and control over their investments and all through a quality name, with Deutsche Bank being ranked the world’s number 1 forex bank*.
With dbFX, Money Managers are able to focus on their trading while dbFX takes care of everything else with end-to-end back office support. Other significant benefits include:
• Access to a robust trading platform and leading technology
• Full spectrum of Deutsche Bank research
• Security of investing with a stable, global brand
• Cost-effective and consistent access to the global markets
• Back-office support for managers, including calculation and payment of management fees, and the handling of administrative details of account opening
• Limited liability for managers
• Complete control over funds for the investor, including making deposits and withdrawals directly with Deutsche Bank without any lock-up periods
Launched in 2006, dbFX.com is available in multiple languages, has 34 currency pairs and is accessible in more than 70 countries around the world. It brings the benefits of Deutsche Bank’s award-winning expertise in foreign exchange to clients.
The dbFX.com platform can be accessed at: www.dbfx.com
*Deutsche Bank ranked the No. 1 Foreign Exchange Bank in 2008 by Euromoney for the fourth year running.
For further information, please call:
Zaman Toleafoa (UK)
+44 207 269 7244
Suzanne Kimelman (US)
+1 212 850 5636
About Deutsche Bank
Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With 80,253 employees in 75 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.
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