Kx, a division of First Derivatives, has been selected by Sumitomo Mitsui Banking Corporation (SMBC) to build and manage its next generation e-FX platform.

Under a multi-year agreement, Kx will provide SMBC and its clients with a solution that delivers electronic execution, distribution capabilities, algorithmic trading and risk management supported by real-time pre and post-trade analytics.

The solution is built on three components Kx for Flow, Algo Risk Management and FX Analytics that are key elements of Kx’s e-FX trading platform. These combine order management and pricing techniques with customised trading algorithms and distribution of liquidity to multiple market channels, enabling SMBC to further increase its customer reach, the firm says in a statement.

Katsuhiko Yano, joint general manager, global markets engineering at SMBC, comments: “Kx was a natural choice for Sumitomo Mitsui Banking Corporation and is well placed to provide us with a flexible, scalable and high-performance technology that easily integrates with our existing systems and provides us with a foundation for our continued growth and expansion in e-FX trading. Kx’s ability to deliver a highly flexible platform supported by a local Japanese presence and global reach will enable us to take advantage of many new opportunities for Sumitomo Mitsui Banking Corporation and our clients.”

Patrick Brazel, chief commercial officer of Kx, says: “We are very pleased to partner with Sumitomo Mitsui Banking Corporation on this strategic initiative. Our e-FX solutions deliver rich functionality informed by many years of FX domain expertise and powered by the world-leading performance of Kx technology. This combination is delivering important benefits for our clients and establishing Kx as a key technology provider to the e-FX market.”

Galen Stops

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