Implementation of the product is expected to enhance Union Investment’s execution capabilities; Deutsche Bank was the inaugural liquidity provider.
In an industry first, Deutsche Bank and ING become the first two banks able to trade FX Swaps via API and match at the market midpoint.
With this expansion, the bank will have a debt capital markets (DCM) presence in eight geographic locations.
New London-based heads have previously held positions at BNP Paribas, Deutsche Bank, and Goldman Sachs.
The parties in question have now been invited to make representations to the Competition and Markets Authority (CMA) before a final ruling is made.
The past week saw appointments from Deutsche Bank – a hire announced just before news of Credit Suisse’s acquisition by UBS – alongside hires from Bank of America Merrill Lynch and Panmure Gordon.
New head joins from the embattled Credit Suisse, where she served for the last 12 years, most recently as head of EMEA high yield trading and sector strategy.
The bank sees positive momentum, with net profit more than doubling year-on-year to its highest since 2007.
Multi-year partnership with NVIDIA will see the development of new products to accelerate the bank’s migration to the Cloud.
Incremental investments in growth areas nearing €70 million over the next three years will be self-funded by re-allocation of resources, said DWS.