Deutsche Bank Electronically Executes and Clears First OTC Interest Rate Derivative Transaction Via Autobahn

Deutsche Bank has electronically executed and cleared the first OTC interest rate derivative transaction through the bank’s flagship electronic trading platform, Autobahn, and new clearing infrastructure, dbClear.

This latest innovation for clients allows electronic derivative transactions to flow straight through to SwapClear, the interest-rate derivative clearing service operated by London Clearing House known as LCH.Clearnet Ltd.

The automated transaction is a step forward in providing greater transparency and counterparty risk management as part of a commitment made by Deutsche Bank to both clients and regulators to improve derivative market infrastructure, according to the release.

Commenting on the seamless electronic trading and clearing service, Michele Faissola, Global Head of Rates at Deutsche Bank, said in the release: "Client and regulator requirements mean that there is an increased need for efficient clearing. Our ability to execute and clear is a key differentiator for Deutsche Bank and this groundbreaking trade paves the way for the market as a whole. We were very pleased to complete this first milestone in electronic clearing."

Deutsche Bank said this is the latest in a long line of innovative electronic solutions from the firm, dating back to 1996 when Autobahn first offered electronic fixed income execution.

Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio