BlueX has gone live, with the first production trades now executed on its FX trading platform following the recent granting of its license by the Jersey Financial Services Commission (JFSC).
The newly launched FX workflow execution management system (EMS) aims to provide a seamless, streamlined process that reduces manual intervention and delays, while intelligent analytics provide real-time insights for informed decisions, resulting in optimal FX execution efficiency.
Central to BlueX’s differentiated approach is the integration of third-party applications directly into the trade flow, thus offering an interconnected ecosystem that simplifies execution and makes decision-making effortless for traders, with data and analytics built into every trade.
BlueX partnered with Tradefeedr, New Change FX, and Lucera
BlueX is owned by BlueCrest Capital Management and leverages BlueCrest’s proprietary technology and systems that have been utilized to execute trillions of dollars.
On top of that, BlueX has developed strategic partnerships to deliver its platform’s capabilities:
• Tradefeedr: Integrates critical trade data, allowing clients to evaluate execution costs and expected returns for various strategies on a trade-by-trade basis, significantly enhancing trading performance.
• New Change FX: Offers the sole regulated FX benchmark price feed for spot and forward trades, enabling real-time pre-trade price checks and tolerance checks for auto-execution workflows to ensure precise execution.
• Lucera: Facilitates rapid onboarding of liquidity providers, supporting multiple execution methodologies through a single connection.
The BlueX platform provides universal client segment support, and offers versatile and adaptable trading solutions to global institutional market participants across the buy- and sell-side, including regional banks, hedge funds, corporates, asset managers, and brokers.
“Third-party trading tools directly into the end-user workflows”
Graham MacGregor, CEO of BlueX, said: “By combining advanced core platform features with third-party trading tools directly into the end-user workflows, BlueX delivers a unique value proposition that sets it apart from other Execution Management Systems. Optimising execution decisions, while supporting flexibility and customisation, is central to our mission.
“BlueX is focused on building highly functional workflows, seamlessly integrated into the trading environment. Our aim is to simplify execution by embedding data and analytics directly into the trade cycle, optimising broker liquidity selection while guiding users to the most efficient execution methods, leveraging pre- and post-trade transaction cost analysis. “With the recent granting of our license by the Jersey Financial Services Commission (JFSC), BlueX has the requisite structures in place that the market demands. With the first production trades now executed, I am excited to bring BlueX’s unmatched versatility to market.”
Manuel Aranzana, Head of Systematic Trading at BlueCrest, said: “Requests from demanding BlueCrest traders, combined with partnerships with best-in-class data and analytics providers, have led, over many years, to an optimised, robust trading tool supporting trillions in FX yearly. BlueX’s use of this technology marks an exciting new stage of innovation for the industry.”
BlueX is incorporated in Jersey with its registered office at Ground Floor, Harbour Reach, La Rue de Carteret, St. Helier, Jersey JE2 4HR.
