Commerzbank, Germany’s second largest bank by assets, has upgraded its electronic currency dealing platform to improve its analytics and add functionality for precious metals trading and structured products, as competition grows between the world’s largest FX dealers to keep customer flow on their own platforms.

The new platform, Commander, will be based on Dresdner Kleinwort's click-and-trade FX platform, the UK-German bank Commerzbank bought from insurer Allianz in 2009. Many of the bank's foreign exchange team are former Dresdner bankers.