Deutsche Bank clears an OTC derivative transaction through Autobahn
Deutsche Bank has electronically executed and cleared the first OTC interest rate derivative transaction through Deutsche Bank's flagship electronic trading platform, Autobahn, and new clearing infrastructure, dbClear. This latest client innovation allows electronic derivative transactions to flow straight through to SwapClear, the interest rate derivative clearing service operated by London Clearing House (LCH.Clearnet Ltd).
The automated transaction is a great stride forward in providing greater transparency and counterparty risk management: part of a commitment made by Deutsche Bank to both clients and regulators to improve derivative market infrastructure.
Michele Faissola, Global Head of Rates at Deutsche Bank, said that seamless electronic execution and clearing is an essential part of providing a comprehensive clearing service: "Client and regulator requirements mean that there is an increased need for efficient clearing. Our ability to execute and clear is a key differentiator for Deutsche Bank and this groundbreaking trade paves the way for the market as a whole. We were very pleased to complete this first milestone in electronic clearing."
This is the latest in a long line of innovative electronic solutions from Deutsche Bank, dating back to 1996 when Autobahn first offered electronic fixed income execution.
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Deutsche Bank AG
Phone: +44 20 7545 8226
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