Deutsche Postbank ramps-up FX trading

German savings bank Deutsche Postbank is to add seven more foreign exchange traders to its new trading floor in Frankfurt, a spokesperson told RiskNews’ sister publication FX Week . When completed, the expansion - which started with the relocation of its former forex dealing floor in Bonn in August - will bring the total number of markets traders in the centre to around 100. Postbank trades spot forex, swaps and forwards for both clients and in the interbank market, and will begin trading forex options next year, said the spokesperson.

The creation of Postbank’s new trading floor was designed to bring together the forex business of Postbank Group - of which Deutsche Postbank is a member. The bank serves external forex customers as part of its business, but also handles the forex business of the Postbank Group, which includes German mail firm Deutsche Post, delivery firm DHL, and logistics company Dansas. "We are the point of liquidity and centre of competence for the forex business of the Postbank Group," said the spokesperson. "All kinds of internal and external customers use the service of the forex desk."

The new floor uses Reuters and EBS platforms for interbank dealing, while the bank also has two Web-based forex trading platforms.