Tag: Fastmatch

Fastmatch

In the FICC of It

After a week-long absence Profit & Loss‘ managing editor, Colin Lambert, and editor, Galen Stops, are back on the airwaves to discuss some of the most eye-catching items in the news recently. They begin with some reader feedback from stories published last week. Firstly, a story about the attempt by a futures exchange to introduce […]

FastMatch Rebranded as Euronext FX

FastMatch has been officially rebranded as Euronext FX. Euronext says that this represents “a new step” in the integration of FastMatch into its business and that it reflects “the evolution of FastMatch” since it acquired the platform. “While the FastMatch brand name is synonymous with speed and best in class technology, Euronext stands for transparency, […]

Market Impact: Friend or Foe?

Speakers at the Profit & Loss Forex Network New York event highlighted that how you define, measure and respond to market impact when trading FX depends on a number of different variables. Opening the discussion ‘Market Impact – Finding Execution Styles that Work’ moderator Paul Aston, the CEO of Tixall Global Advisors, argued that while […]

FX Trading Activity Ticked Up in March

It looks like there was an uptick in trading activity in March, as the first platforms to report trading volumes – FXSpotStream, Cboe FX and FastMatch – all reported higher month-on-month volumes.The average daily volume (ADV) traded on FXSpotStream was $37.8 billion in March, its second highest month ever and an 8.38% increase from the $34.8 billion it reported for February. It also represents a 37% increase compared to March 2018.CboeFX reported an ADV of $38.5 billion last month, up 11.6% from the $34.5 billion it reported in February, but largely flat year-on-year.

FastMatch to Launch Singapore Matching Engine

FastMatch is setting up a new matching engine in Singapore, which is expected to be fully operational in the fourth quarter of 2019. In addition, FastMatch has opened a new commercial office in Singapore.“This expansion in the Asian market reflects FastMatch’s ambition to be closer to its clients worldwide and creates a strong development base to become a major FX marketplace in the region,” says the ECN operator in a release announcing the news.The new matching engine comes in addition to the platform’s existing matching engines located in New York, London and Tokyo.

Exchanges in FX: A Game of Musical Chairs

In recent years, large exchange groups have been lining up to buy OTC FX platforms. But in this game of musical chairs, what happens to the venues without a buyer when the music stops? Galen Stops reports.One of the major trends in the multi-dealer platform space in recent years has been the acquisition of these platforms by larger exchange groups. Hotspot was the first to go after it was bought by BATS Global Markets in 2015, which in turn was then acquired by Cboe Global Markets in 2017 and the FX platform was rebranded as CboeFX.

Exchanges in FX: A Game of Musical Chairs

In recent years, large exchange groups have been lining up to buy OTC FX platforms. But in this game of musical chairs, what happens to the venues without a buyer when the music stops? Galen Stops reports.One of the major trends in the multi-dealer platform space in recent years has been the acquisition of these platforms by larger exchange groups. Hotspot was the first to go after it was bought by BATS Global Markets in 2015, which in turn was then acquired by Cboe Global Markets in 2017 and the FX platform was rebranded as CboeFX.

QuantHouse Makes FastMatch Tape Available via API

QuantHouse announced that the FastMatch consolidated central market dataproduct, the FX Tape, is now available on its API Ecosystem store.QuantHouse is an independent provider of systematic trading solutions, including market data services, an algo trading platform and infrastructure solutions. QuantHouse says that more than 300 buy side firms and investment banks are connected to its API Ecosystem, which enables access solutions provided by buy and sell side firms, execution venues and technology partners. As QuantHouse manages the API, customers can access services quickly and efficiently, simply by ‘plugging-in’.FastMatch’s FX Tape includes transactions from a range of market participants and sources, including FastMatch’s ECN, delivering a reference point for executed trades in the spot FX market.

A Rising Tide Lifts All

If the numbers are anything to go by, 2018 was a good year for OTC FX platforms, says Galen Stops.2018 saw the spot volumes increase across all of the multidealer OTC FX platforms that report this data, something that has not happened once in the past five years. Talk to the platform providers about what they saw as the key drivers of trading volumes in 2018 and they largely cite the same factors, chief amongst these being a proper decoupling of US interest rates relative to the rest of the world.

FastMatch: Broadening its Horizons

In 2016 Fastmatch saw year-on-year average daily volumes (ADV) on its platform grow by 54%, and no doubt this growth was at least partially responsible for Euronext’s decision to spend $153 million to purchase 90% of the platform in August 2017, as it subsequently registered a 44% increase in ADV for that year. 2018 saw strong, if not as spectacular, year-on-year ADV growth of 9% to $20.1 billion, but Kevin Wolf, CEO of FastMatch and head of FICC US at Euronext, instead highlights the increase in the number of clients using the platform as the key growth metric for the year. “When we think about client acquisitions, we break it down along two dimensions: one is the number of clients and the other is the diversity of clients,” he explains.