R5 has implemented Kx technology to power R5-SHCH Connect, a new service that links banks in China with London’s FX market.
UK Prime Minister Theresa May announced the launch of R5-SHCH Connect during a state visit to China on February 2.
Kx for Flow is an established eFX trading platform, which combines order management, trade execution, risk management, transaction analytics and alerts management. This provides R5 and its clients with electronic execution and effective risk management with the benefits of being on a centrally cleared platform. Kx for Flow is built upon the kdb+ database platform.
Jon Vollemaere, CEO of R5, comments: “R5-SHCH Connect went live in a short timescale, the result of a good working relationship between R5, the Shanghai Clearing House and Kx, which was efficient and highly responsive. By using Kx technology R5-SHCH Connect is not only fast and robust, it gives us a foundation for future growth and expansion as we continue to transform emerging markets FX. We are particularly happy to be announcing this partnership today at the City of London RMB Roundtable at the Guildhall in London, in association with the People’s Bank of China.”
Rich Kiel, head of FX solutions for Kx, says: “We are very pleased to be working with R5 on this important initiative to further support the ‘electronification’ of Emerging Markets FX. R5-SHCH Connect demonstrates how Kx technology continues to be at the forefront of technical innovation in electronic trading bringing these two important markets together while providing R5 with a platform for future growth.”