LONDON, Oct 4 (IFR) - Deutsche Bank is making its computer code publicly available for the first time, in an attempt to create a common industry standard for trading technology.
Deutsche said it will put more than 150,000 lines of code from its electronic platform Autobahn into the public domain so that applications from different providers can use it as a shared system.
The code will also be integrated into the Symphony messaging platform, which is used by a number of Wall Street banks.
Deutsche said the move is its first contribution to open-source technology, whereby firms provide public access to computer code so that other programmers can improve it or suggest new ways of using it.
Market participants typically use multiple applications for data, news and trading that work independently of each other. Deutsche said client feedback showed they wanted to use a standard platform for trading, rather than a proprietary platform from each bank, which can add costs and complexity for users and banks.
”By making this code publicly available, we aim to create a common industry standard that will deliver a faster and more convenient service to clients, strengthen controls and reduce costs,” said Peter Wharton-Hood, chief operating officer of Deutsche’s corporate and investment bank.
The bank said its move was part of its plan to modernise, simplify and standardise its technology. (Reporting by Steve Slater)