Nomura has made its five FX algorithmic strategies available on the BidFX platform. Clients can now access Nomura’s FX Algo Tsuwamono Series on BidFX. Each strategy offers flexibility on executions designed to meet client requirements and trading preferences. “Nomura’s FX algorithms provide substantial benefits to clients, with high levels of trading flexibility. We’re pleased that […]
BidFX has appointed Wai Kin Chan as the company’s new head of APAC. Based in Singapore, Chan will be responsible for sales team leadership, driving sales growth in the region, as well as general management responsibilities across APAC. Prior to this appointment, Chan was the head of Asia Pacific distribution for XTX Markets for over […]
Execution management system provider BidFX has announced the addition of non-bank market making firm Jump Liquidity to its ranks of liquidity providers. “With the rapid expansion of BidFX we are happy to see Jump Liquidity join our EMS in response to high client demand,” says BidFX CRO, John McGrath. “Their tailored liquidity will enrich the […]
BidFX Systems, a division of TradingScreen (TS), is opening offices in Italy and Australia, with new hires heading each location. Carlo Scotto will run the Italian office, which will be based in Milan. He joins from Refinitiv, where he was responsible for sales and business development in Southern Europe for FXall. Scotto has also worked […]
BidFX has added Standard Chartered Bank’s (SCB) full algo suite to its platform. John McGrath, chief revenue officer at BidFX, comments: “SCB are a leading liquidity provider on the BidFX platform and the expansion to add their algo suite has been very well received by the institutional buy side currently using BidFX. The evolution within […]
Singapore Exchange (SGX), has acquired a 20% stake in BidFX, including an option for additional shares to gain a controlling interest, for a total cash consideration of $25 million.BidFX was spun off as a division of TradingScreen (TS), a provider of a multi-asset execution and order management systems, in January 2017. It offers a cloud-based, front-end trading platform aimed at helping hedge funds, traditional asset managers and regional banks trade, improve access to liquidity, generate alpha and simplify workflows. Its liquidity aggregation platform supports FX spot, swaps and forwards for G10 and Asian currencies.SGX says that the investment is part of its strategy to build core pillars of growth across multiple asset classes, while BidFX indicates that it plans to utilise the funds to further grow its reach and offering among institutional investors.
IHS Markit has announced that MarkitSERV will now offer integration with BidFX, an execution management system (EMS), for straight through post-trade processing of FX trades.
In working with BidFX and other FX trading venues on its network, MarkitSERV aims to deliver a comprehensive, flexible straight through processing (STP) solution for FX trading, which includes a hosted service to disseminate trades from execution venues to clients’ internal trade capture and risk systems. The low latency service is designed to eliminate manual trade booking and provides real-time trade notification, position and P&L updates, confirmation of dealt trades, and enhanced operation and risk control.
Singapore Exchange (SGX), is launching a new product, SGX FlexC FX Futures, with the aim of “futurising” certain OTC FX product offerings.
Targeted for launch on August 27, SGX FlexC FX Futures – developed in consultation with market participants – enable bilateral trades that are privately negotiated with tailored expiration dates to be registered and cleared like a standard SGX FX futures contract. This feature will be available for INR/USD, KRW/USD, TWD/USD, USD/CNH and USD/SGD contracts.
Michael Syn, head of derivatives at SGX, says: “Access to counterparty credit, especially for tenors longer than spot, is increasingly scarce and expensive in the OTC FX markets.