Dresdner launches forex prime brokerage

German bank Dresdner Kleinwort Wasserstein (DrKW) has launched a foreign exchange prime brokerage business, completing its cross asset class prime brokerage offering.

Using proprietary technology, the bank has developed a front-to-back platform that will provide its clients with access to transactions including forex spot, forwards and swaps; vanilla and exotic forex derivatives; local market currencies and derivatives; and precious metals and commodities.

Christian Exshaw, European head of forex sales and prime brokerage at DrKW in London, said the new brokerage would provide access to liquidity in forex-related products, and create a more efficient use of collateral given its cross-product margining policy.

"Technology is clearly key in an area such as [forex prime brokerage], and we have worked to create a versatile yet highly comprehensive and sophisticated platform that will allow rapid execution and full follow-through," he said.

Fabian Somerville-Cotton, head of prime brokerage products at DrKW, said the launch of the brokerage completes the bank's cross asset prime brokerage platform, and demonstrates its continued investment in its prime brokerage business.