Northern Trust has entered an exclusive
partnership with execution services software provider Bex to develop customised FX software, including
components used in Northern Trust’s electronic FX trading platform.
The firms say Bex’s
software “has enabled Northern Trust to ...
When discussing the future of the FX industry finding consensus amongst market participants about what the market will look like and how it will function can be challenging.
Yet one thing that appears to be broadly agreed upon is that the use of algorithms for executing trades is likely to continue growing in the coming years, as technology continues to evolve and firms look for new ways to minimise their market impact when trading.
Indeed, the use of algos is often prescribed as the answer to a market where it is becoming harder to execute in size and buy side firms are increasingly concerned about this issue of market impact.
Northern Trust has announced an agreement to acquire Bex, a provider of foreign exchange software solutions.
The bank says the acquisition will give it ownership of a platform providing algorithmic FX trading, global liquidity aggregation and transparency in execution and pricing to institutional clients worldwide. The agreement builds on an exclusive partnership between the firms announced in 2016.
“Bex has been a key differentiator for Northern Trust, increasing the depth and breadth of our global FX execution capabilities,” says Pete Cherecwich, president of corporate & institutional services at Northern Trust. “In an evolving FX marketplace, this acquisition provides a foundation for sustained growth and innovation on behalf of our clients.”