360T, the foreign exchange (forex) subsidiary of Deutsche Börse, has selected FairXchange to provide its liquidity management and sales teams with an independent analysis of execution performance.
The deal enables 360T to deliver seamless access to tools and techniques that help its internal staff manage and optimise their eFX businesses in an increasingly complex market environment. Also, the company will be using FairXchange to gain more transparency and provide clients with insights for their FX trading activity.
The Frankfurt-based exchange group said that integration with FairXchange’s Horizon also helps them in having data-driven discussions with both liquidity providers and liquidity consumers, optimising execution and delivering commercial benefits to all participants.
By choosing FairXchange, 360T can address the growing challenges in Europe presented by ongoing regulatory changes. It offers customers the ability to conduct analysis across a variety of metrics for each trade.
The firm’s analytical framework, Horizon, provides metrics that help users analyze the different events associated with FX trading alongside the actual fills. Horizon takes a large data-set of any trading event that can be captured electronically and compares it to market data at the time.
FairXchange’s Pricing Stack Analysis also provides a complete view of a financial institution’s pricing stack, as well as insights into the dynamics of their liquidity. This helps banks, brokers and hedge funds to understand the financial impact of their LPs selection compared to other choices they could make.
Commenting on the partnership, Simon Jones, Chief Growth Officer at 360T explained: “In Horizon, FairXchange has built a unique tool for delivering intelligence to platforms such as ourselves. The range of capabilities and ease of presentation has made this an essential part of our engagement with both Makers and Takers. It is great to see innovation like this, a real credit to Guy and his team.”
Guy Hopkins, Founder & CEO, FairXchange added, “We are thrilled to be working with 360TGTX, a global trading venue with a broad range of execution styles and customer demographics. We are able to provide accessible, actionable data to the 360TGTX team to further optimise execution results. We have adapted a number of features in Horizon to suit 360TGTX’s specific requirements, and they have provided critical input as we continue to innovate in this space. We are very excited to be partnering with a leading FX platform provider.”
With this product expansion, Deutsche Börse is further extending its market data offering into the FX market, helping close a gap in the market for data driven decisions. The move also marks its continued expansion motive in the foreign exchange space and institutional level trading businesses. It comes after nearly five years of Deutsche Borse’s foray into FX ECN of its own with the acquisition of 360T, which turned to be the center of the exchange’s global FX business.