DIGITEC Launches Web-based Plug-and-Play FX Pricing Engine

DIGITEC, a specialist provider of FX Swaps technology and data, announced yesterday the roll-out of a new web-based plug-and-play FX pricing engine, D3 Lite, which is designed to address the growing needs of smaller market participants, enabling them to go live within days with no coding or hardware requirements.

According to the official press release, the new offering is derived from DIGITEC's enterprise-level D3 Multi-Asset Pricing Engine, which is the global standard for Swaps, Precious Metals and Money Markets core pricing. It delivers key features to automate and cement pricing and distribution via an intuitive GUI, plus additional auditing functionality.

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"We are already witnessing the Swap market's rapid growth and continued evolution to a more automated and electronic market. A trend that will continue over the next few years. D3 Lite enables smaller market participants with limited internal resources to participate in that evolution and continue servicing their clients in an efficient manner," said Peer Joost, CEO of DIGITEC.

"As the FX Swaps experts, we have already seen an increased demand from a large number of firms, helping them to move away from a reliance on Excel," Stephan von Massenbach, CRO at DIGITEC, noted. "Implementing any new system at a bank is generally regarded as a big and resource-heavy project. An on-premise system requires expensive hardware, IT overheads and ongoing maintenance resources. Delivering D3 Lite as a web-based application reduces costs and the time taken for clients to go live. Our first D3 Lite clients have already been onboarded."