February 18, 2009

Deutsche Bank Autobahn® Equity releases the Stealth strategy algorithm

Deutsche Bank’s Autobahn® Equity business, within its Global Markets division, announced today the global availability of an algorithm based on Deutsche Bank’s proprietary “Stealth” strategy, which silently executes difficult orders in over 30 markets around the world.

The Stealth strategy is liquidity-seeking, and is designed to minimize the traders’ market impact by trading only as opportunities arise and minimizing information leakage. The Stealth algorithm was designed for rapidly changing markets characterized by wider spreads, faster quoting, and smaller top of book liquidity coupled with the enormous growth in off-exchange liquidity.

“Extreme volatility has made trade implementation more difficult, especially for less liquid names,” said Rob Flatley, Managing Director and Global Head of Autobahn Equity at Deutsche Bank. “Stealth’s ability to silently work orders in tune with the micro structure of each market it trades, without changing the shape of the order book, makes it a useful tool in all 30 markets in which it is used.”

All Deutsche Bank’s algorithms, including Stealth, are fully integrated with Deutsche Bank’s ultra-fast smart order router, which adapts the execution of trades to all available dark and displayed venues.


For further information, please call:

Renee Calabro       
+1-212-250-5525
Media Relations



About Deutsche Bank

Deutsche Bank <NYSE: DB> 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 80,456 employees in 72 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.

Deutsche Bank Securities Inc., member NYSE, FINRA and SIPC, is the investment banking and securities arm of Deutsche Bank AG in the United States.

www.db.com