Swissrisk Financial Systems, a Dion Global Solutions Company, today announced that their i-Trader product has enabled Close Brothers Seydler Bank AG to successfully complete the first software controlled IPO in the Xetra Specialist Trading Model of FWB (Frankfurter Wertpapierbörse).
This model forces the Specialist to split offered shares proportionally to all bid offers and presents considerable difficulties, especially when the demand exceeds the number of shared issued. With the help of i-Trader's Allocation-Tool, Close Brothers Seydler Bank AG specifies the rules for allocation and thus is able to manage over 500 orders in a single operation.
Burkhard Ziegler, Executive Director, Head of Specialist Floor Equities of Close Brothers Seydler Bank AG commented: "It is the unique mix of easy to use flexibility and highly powerful functionality that enables the i-Trader suite to exactly fit to the business needs"
The i-Trader solution provides access to multiple ECN's, Exchanges and Market Data vendors from a single application. It provides dealers with the ability to view and manage counterparty risk, working orders, executed trades and positions. i-Trader is designed to cater to the needs of trading environments today and provides dealers with the information they need to enhance their performance.