Eurobase Announces eFX Price Streaming Project with WestLB AG

12 November 2008

WestLB AG has selected Eurobase’s Siena Gateway product to distribute high performance FX pricing to various channels, e-FX multi-bank portals and proprietary platforms. Siena Gateway will provide WestLB AG with a strategic tool for the near-zero latency streaming of prices -- initially to the 360T platform.

The Siena Gateway replaces the bank’s current eFX system and incorporates highly flexible rules-based processing for ESP, RFQ, RFSQ and Dealer Intervention. Full lifecycle price and trade acceptance performance has been measured at near-zero latency including pre-trade e-credit checking.

Joerg Tuerk, head of eTrading IT team at WestLB AG, said: ‘‘Having proved the capabilities of the Siena Gateway during the pre-implementation phase, and as a trusted supplier to the bank via our use of the Siena eTrader execution platform, we are delighted to have engaged Eurobase on such a key project. e-Market service delivery is of paramount importance to the bank and being able to offer our customers a more efficient, scaleable and higher performance solution will enable us to greatly enhance our service offerings.”

David Mallinder, business development director at Eurobase Banking Solutions, commented: “As the market embraces sales-centric trading models, factors such as cost reduction, speed to market, performance and scaleability become key in delivering successful eFX price distribution. Demand for Eurobase’s products has increased significantly during 2008 and we look forward to announcing further wins in the very near future.”

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