Deutsche Bank opens computer code to public
Written by Chris Lemmon
Deutsche Bank has made its computer code publicly available for the first time, in a move designed to create a common industry standard for trading technology.
The bank will put over 150,000 lines of code from its electronic platform Autobahn into the public domain so that trading applications from different providers can use it as a shared foundation and work with each other. The code will also be integrated into the Symphony collaboration platform, which is widely used by financial institutions.
The move is Deutsche Bank’s first contribution to open source technology, in which firms provide public access to computer code so that other programmers can suggest improvements and new ways of using it, for example to provide new services. It marks a further step in the bank’s strategy of modernising and standardising its technology.
Feedback from clients suggested that they were keen to use a standard platform for trading applications that was not the proprietary solution of a single provider. Deutsche Bank reviewed the commercial products available in the market and decided to create a solution when none of them fulfilled its needs.
Peter Wharton-Hood, chief operating officer of the corporate and investment bank at Deutsche Bank, said: “We want to be a leader in open source technology in the banking sector. 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.”
David Gurle, founder and CEO of Symphony, said: “We are thrilled to be working with Deutsche Bank on the integration of this open source solution with Symphony. Plexus Interop represents the largest outside contribution to the Symphony Software Foundation since its founding, and underscores the power of the community and our strong partnership with Deutsche Bank.”