Month: February 2018

FlexTrade Hires Alves

FlexTrade Systems has appointed Paul Alves as senior vice president, global FX business development, with a focus on expanding the company’s buy side trading solutions to asset managers.

According to Alves, automation efficiency, execution flexibility and cost conciseness for both the asset manager and their bank partners, are key areas in which the buy side is now focused.

“One size no longer fits all, and asset managers are looking for solutions that support varying degrees of execution automation and workflow customisation, while expanding their available execution methods and minimising risks. Regulatory requirements, liquidity access and increased efficiency demands are all driving asset managers to evaluate how they execute their FX trades. The need for an FX solution that incorporates all these factors into their trading environment while containing costs is critical,” says Alves.

Hotspot, GTX Hit New Highs as Platforms Report Strong January

The first three platforms to report FX trading volumes indicate January was a strong start to the year all round, with Cboe’s HotspotFX and Gain’s GTX platforms both recording new record highs for average daily volume.
Cboe’s Hotspot reported ADV of $42.6 billion in January, up 37% from December and 43.9% up year-on-year.
Euronext’s FastmatchFX also saw a healthy bounce from December and on a year-on-year basis, with ADV at $20.8 billion, a 33.3% rise month-on-month and 22.4% up year-on-year.
Gain’s GTX also set a new high at $13.9 billion per day, up 28.7% from December and 10.3% higher year-on-year.

BMO Partners with Trade Informatics for TCA

Trade Informatics (TI), a provider of quantitative analytics and systematic trading solutions to institutional asset managers has announced it will provide BMO Capital Markets (BMO) with transaction cost analysis (TCA) tools to help the bank execute algorithmic trades with what the firms say will be “improved execution quality”.
This partnership will allow BMO to measure and evaluate trade decisions with personalised systematic trading technology that is customised to match its clients’ investment processes and is based on third party analytics, the firms say.

And Another Thing…

The world is all about keeping the customer happy and that is not always the easiest thing to do – they are such irrational things sometimes! Aside from such matters, two news items this week have piqued my interest – not only do they mean that Thomson Reuters can have a long hard look at its FX business, but we will also find out if customers really do care more about market quality than they do the brokerage bill that arrives every month!