LBBW trades with iQbonds

The first out of the three implementation phases is completed

German Landesbank Baden-Württemberg (LBBW) is live with the new iQbonds Release 3.4. After the bank’s decision for an overall electronic trading solution from icubic in October the implementation of the first part of the solution is now completed. Olaf Meyer, Application Manager, LBBW about the co-operation with icubic: "The project goes according to plan. The iQbonds roll out was carried out professionally and fast. We use iQbonds together with the icubic interfaces to trade and quote on EurexBonds and MTS. Additionally we send tradeable prices to the multi-dealer platform Bloomberg and to our own single-dealer platform as well as indicative prices to Reuters. Market data is also provided by Eurex, on which we can trade directly. The next steps comprise of establishing the connection to Bloomberg via the Auto-Execution-Protocol, the installation of iMarket, and the implementation of iQrepos."

Ralf Henke, CEO, icubic, about the system’s implementation: "Time is a crucial factor on the financial markets. This fact also applies to the installation of new systems. The implementation of iQbonds at LBBW, which included the interfaces to MTS and EurexBonds, was completed within eleven weeks from the signing of the contract. Now LBBW can benefit from a high performance trading system for the fixed income field."

iQbonds is an intelligent system that enables the pricing, quoting and trading of financial instruments on electronic markets. The new release 3.4 provides numerous new features that further facilitate the trader’s workflow. iQbonds already possesses two different Application Programming Interface (API) levels. In release 3.4 icubic also implemented plug-ins into the system so that traders using iQbonds can now control other server processes such as auto-negotiations in iMarket. iMarket is an electronic trading system that connects traders, sales professionals and the bank’s customers. It categorises the customers e.g. according to their revenues and calculates corresponding premiums and discounts. Hence further processes the prices of financial instruments calculated by iQbonds or another pricing engine. iQbonds release 3.4 provides further innovations concerning the pricing, such as the possibility to price bonds against credit default swaps. Furthermore, the range of hit reactions is now extended for ‘counter trades’ and ‘set quoting groups offline’. Hit reactions can be automatically executed as a result of buying and selling activities.

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