Day: 7 July 2017

Nex Launches Credit Rebalancing Tool

NEX (Nex) Optimisation has launched an automated credit rebalancing tool that specifically addresses limit over-allocation by prime brokers.

Rebalancer went live across five major ECNs on 2 July 2017, with further platforms going live throughout the year.

Designed in close partnership with Citi, Rebalancer is deigned to enable dynamic allocation of credit across client trading venues, allowing clients to move credit from one platform to another in real time.

Prime brokers currently allocate credit to multiple trading venues but do not have the ability to move it around if there is excess credit on one and a shortage on the other.

Can Blockchain Open Up FX Market Access?

Rosario Ingargiola, founder and CEO of OTCXN, argues that accessing wholesale liquidity is one of the biggest challenges in the FX market today that could be alleviated by fintech solutions.

Speaking about different approaches to the FX market by fintech firms, Ingargiola says that one strategy is to look at areas where new technologies can reduce costs in terms of how firms operate and another – which he says OTCXN is pursuing – is to use technology to change the way that firms operate altogether.

The area where he sees the biggest opportunity to change the way that firms operate using fintech solutions is around using credit to access the FX market.