DBS selects DerivaTech for FX trading

The Development Bank of Singapore (DBS) has announced a deal with DerivaTech, the Chicago-based provider of FX derivatives pricing solutions, as part of its strategy to update its FX derivatives pricing systems.

The DerivaTech OTC system will support the bank's stated aim of becoming a major player in the FX options business, according to Conrad Kwok, head of foreign exchange options at DBS. "With the expansion in our business, both in volume and sophistication, our existing legacy system became less effective," he explained.

The move is part of an investment programme in excess of $100 million, through which the bank hopes to become the leading risk adviser.

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Stemming the tide of rising FX settlement risk

As the trading of emerging markets currencies gathers pace and broader uncertainty sweeps across financial markets, CLS is exploring alternative services designed to mitigate settlement risk for the FX market

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