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.
More on Foreign Exchange
China onshore forex derivatives market a fraction the size of its EM peers
Extension of cross-border scheme beyond Shanghai FTZ welcomed by corporate treasurers
Says senior policy adviser at Chicago Fed
State council to make the change from a weekly basis
Sign up for Risk.net email alerts
Sponsored video: MarketAxess
Sponsored video: Tradeweb
Multifonds talks to Custody Risk on being nominated for the Post-Trade Technology Vendor of the Year at the Custody Risk Awards 2014
Sponsored webinar: IBM Risk Analytics
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.