Danish FX trading institution Jyske Bank has signed a contract with Barracuda FX for FX order management.
Jyske Bank embarked on a project in 2017 to streamline their FX operations in order to make them more efficient. A detailed analysis of the Barracuda platform established it as a key component of the new FX operations strategy.
Barracuda’s Order Hub service was considered to be a major differentiator. Order Hub is an electronic order passing network between Barracuda’s client banks, allowing each bank to increase efficiency and lower risk by leveraging the currency and time zone expertise of partner banks.
Jyske Bank trading head Morten Byrdal said: “We are very pleased to partner with Barracuda FX for our order management system.
“The quality of their product was obvious to us after detailed analysis, but the critical factor was the ability to use the Order Hub service which helps us embrace modern, digital technology solutions to improve our operations.”
Barracuda FX sales head Fraser Devlin said: “For many years Jyske Bank has been known to punch well above its weight in the FX market and has a reputation for excellence.
“We are delighted to welcome them as a client, especially due to their advocacy of our unique Order Hub service.”