WestLB, a German financial services provider, and Gissing Software, solution provider in the routing and transformation of real-time market and trade data, today announced that WestLB has deployed Gissing RealtimeXL for a community of money markets traders based in Dusseldorf, London, New York and Tokyo allowing them to contribute FX deposit rates to internal audiences via the bank’s intranet. The system went live in January 2007.
Gissing RealtimeXL, a high performance real-time add-in for Microsoft Excel that provides access to and contribution of market data from the desktop, has been deployed alongside WestLB’s existing Gissing ConteX MCS multi-contribution system. The simple addition of a Gissing RealtimeXL input handler to Gissing ConteX allows authorised users to contribute FX deposit prices to internal audiences across the bank. WestLB’s money markets desks are using the software to automatically calculate quotes for short-term loans and deposits in pre-defined currencies and to contribute these to the bank’s intranet. These quotes are binding for all internal deals, up to specific volumes, and can be accessed globally by any authorised internal user.
Using Gissing RealtimeXL in this way is a very cost-effective solution for the bank, since it is easy to install and configure and prevents the need to install a separate contributions infrastructure in each location.
Alexandra Balloff, global head of market data, WestLB, says, “Integrating Gissing RealtimeXL with our existing Gissing ConteX contributions architecture allows us to extend the ability to make contributions to a specific community of users on our money markets desks around the world. Gissing was able to offer a cost-effective and practical solution to meet our needs.” FBy implementing a dedicated interface between Gissing RealtimeXL and their existing Gissing ConteX system, the money markets team at WestLB are able to publish and subscribe to data from Gissing ConteX directly, as well as proving to be a cost-effective and straightforward solution,” says Richard Gissing, CTO, Gissing Software.