WestLB selects Logicscope for post trade STP

13 July 2008

WestLB has picked Logicscope’s award-winning post-trade STP platform, TradeSTP™, to receive guaranteed, real-time FX deal notifications from multiple e-FX trading venues. Logicscope’s TradeSTP solution provides WestLB with a flexible combination of direct and hosted connectivity, linking them to a number of market-leading single and multibank FX trading venues. Trades from trading venues are transformed (normalised) and routed automatically through TradeSTP, in real time, to WestLB’s Sungard back office system.

Christopher Johnson, Head of E-trading, Liquid Markets, WestLB, said: “We are very pleased to have selected Logicscope as our post-trade STP partner. Their innovative software facilitates the seamless receipt of timely post-trade notifications from multiple trading venues, in the format we require, straight into our back office environment.

Jörg Türk, Head of E-trading IT Team, WestLB added: “The Logicscope implementation teams were very helpful in speeding up the implementation process on our side, particularly when we were experiencing unrelated internet connectivity issues that resulted in some significant latency issues. Their expertise and support ensured that we enjoyed a painless software installation experience.”

Nick Dyne, Head of Business Development, Logicscope, commented: “WestLB is a great example of how financial institutions trading through e- trading platforms can benefit significantly from efficient and seamless delivery of post-trade messages. Logicscope is acknowledged as the leading post-trade service provider; we have established interfaces with all of the world’s leading e-trading venues as well as outputs to multiple internal and external end user environments. We are developing new adapters continually to ensure we continue to meet the STP connectivity requirements of trading venues and their end users, irrespective of where, how, what and with whom they trade”. Logicscope’s TradeSTP suite of products connects the world’s leading e-trading banks, brokers and platforms with their clients, globally. Today, TradeSTP technology connects over 30 trading venues with some 400 institutions, delivering real-time post-trade messages seamlessly into more than 100 vendor applications.

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