WestLB Goes Live With Eurobase's Siena Gateway

Düsseldorf - 14 December 2009

WestLB has gone live with Eurobase’s market leading price distribution solution, Siena Gateway. The product replaces an existing vendor system at the Bank and is, initially, providing connectivity and FX trading capability to the 360T platform.

‘’We are delighted with the deployment of the Siena Gateway and its use for such a key area of our e-trading business and look forward to concluding further phases including upgrade of our Single Bank Platform Siena eTrader’’ said Chris Johnson, Head of eTrading at WestLB.

The Siena Gateway implementation is co-harmonious to Siena eTrader and provides the Bank with all the benefits of a single software installation, shared hardware and infrastructure and the ability to support the administration and operation of the software through a single point of control.

Rules are defined by one business rules engine and therefore pricing to all execution venues can be centrally managed and controlled. Due to the breadth of products supported business coverage can be readily extended into other asset classes such as MM products further enhancing the Banks offering to their customers.

Like Siena eTrader, the Siena Gateway provides full margining and channel management, distribution and delivery and includes pre-deal e-credit checking as an option. The ultra low performance times for price delivery have set a new benchmark in the FX e-trading arena.

The Bank can readily extend the Siena Gateway to cover other venues and markets and therefore is unlimited as to when and where it may scale its price-making business.

“We are delighted to have delivered Siena Gateway to manage such a crucial area of the Banks eFX business. We are seeing a marked increase in the number of banks now looking to become automated price-makers or wishing to replace legacy e-FX trading products and are convinced our Siena e-Solution provides the optimal mix of performance, scalability and rich functionality to service their requirements’’ comments David Mallinder, Business Development Director at Eurobase.

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