Key facts
- Deutsche Bank has launched an automated foreign exchange execution service called HausFX.
- The service is integrated with BlackRock's Aladdin order management system.
- Deutsche Bank claims the new service can reduce operational foreign exchange costs by up to 90%.
Deutsche Bank is directly challenging custody banks with its new automated foreign exchange execution service, HausFX. The German bank has integrated its service with BlackRock's Aladdin order management system, which is utilized by over 250 asset managers. Deutsche Bank asserts that this integration can lead to cost reductions of up to 90% for asset managers in their operational foreign exchange execution.