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DZ BANK deploys iSettle to automate the booking of repo trades

11 May 2006

Magdeburg. Frankfurt. iSettle automates the booking of repo trades at DZ BANK, Germany’s fifth largest bank. iSettle is a system based on a client-server-architecture that captures trades executed on repo markets such as BrokerTec Repo, Eurex Repo, and MTS Repo. It automatically processes the trade information and forwards it to DZ BANK’s booking system. This minimises the error risk, facilitates the trader’s workflow, and brings a significant time saving as so far the booking had been carried out manually. As the booking of trades is an essential part of the workflow on the trading floor, iSettle is intended for booking of bond trades.

In addition to iQbonds and iMarket, iSettle is the third icubic solution that DZ BANK deploys. iQbonds is a high performance solution for pricing, quoting, and trading of bonds on different electronic markets from a single application. DZ BANK is using the system for acting on platforms such as e.g. Bloomberg, Eurex, MTS, and Reuters. Besides these external platforms iQbonds also sends prices to iMarket. The bank internal market uses these instrument prices as the basis for the calculation of the final customer price. Furthermore, iMarket categorises DZ BANK’s customers according to different criteria such as the revenues, and calculates corresponding premiums and discounts. Hence, iMarket enables seamless workflow between the traders, sales, and the bank’s customers.