Currency cogs

Jyske Bank partners with Caplin and Progress Software to deliver FX solution

Progress Software and Caplin Systems are partnering to provide a fully-integrated, end-to-end FX e-commerce solution for Jyske Bank, one of Denmark’s largest banks.

The solution replaces Jyske’s existing white label e-commerce solution and extends Jyske’s current deployment of the Progress Apama Capital Markets Platform for FX liquidity aggregation and smart order routing.

Expected to go live in the second half of 2013, the solution will initially support some 200 institutional traders and will be rolled out to Jyske’s retail clients in due course.

By overhauling its eFX solution with this new single dealer platform Jyske Bank will provide trading for its institutional clients across FX spot, forwards and swaps. The bank has selected Caplin Trader, an HTML5 front end that runs on the Caplin Platform, for end-user delivery. The Caplin solution will integrate with Progress Software’s Apama Capital Markets Platform to provide a bird’s eye view of aggregated FX markets in real-time and perform smart order routing, real-time pricing of spot and derivatives, auto-hedging and more.

Lene Papsoe, Jyske Bank’s head of department – FX, interest rates and commodities, says: “We see our eFX offering as strategically important to the growth of our business. Our new platform will mark us out as a market leader in the rapidly growing online trading market.

“Progress Software’s Apama solution is already powering our online pricing engine and, having evaluated several web delivery technologies, we decided Caplin was the perfect fit for this project. Both technologies combined provide a sophisticated framework allowing us to differentiate ourselves in the market and on board multiple asset classes as our business evolves. That this solution will work just as well on mobile platforms, and so future-proofs the business, was also a deciding factor for us.”

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