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Deutsche Börse’s 360TGTX Announces Streaming NDFs in the ECN Space

Deutsche Börse FX unit and global provider of the leading multi-bank, multi-asset trading platform 360TGTX has completed its first trade in Streaming Non-Deliverable Forwards (NDFs).

Designed to complement 360T’s disclosed ‘Request for Stream’ offering and being a response to market demand for an alternative hedging venue, 360TGTX Streaming NDFs supports both disclosed and anonymous trading and is initially available to those firms executing off-SEF, with an on-SEF version anticipated in Q1 next year. 360T now gives its
clients more access to NDF liquidity as the major Liquidity Providers expand their Algo offerings to include NDFs and 360TGTX offers a unique alternative hedging venue.

Simon Jones, Chief Growth Officer at 360T, said: “It is clear from the latest surveys and client feedback that the NDF market has evolved significantly over the last few years. Streaming NDFs in the ECN space is a logical evolution and we believe there is space for a faster, more flexible offering. Couple the GTX technology with the 360T franchise and we have a truly differentiated client and inter-dealer offering.”

Earlier this month, Fortex launched a Cryptocurrency NDF offering and an institutional platform for digital assets and cryptocurrencies. The Cryptocurrency NDF solution, while similar to a CFD in certain aspects, will cater to the institutional client space allowing for
deeper liquidity access and larger trade sizes in an ECN environment.

In September, LCH became the first clearinghouse to integrate with State Street’s FX trading platform that provides exception-based automated matching, trade, and settlement confirmation enrichment and third party messaging. Asset managers on FX Connect’s platform can now benefit from direct access to LCH’s clearing service for 5 G10 and 12
emerging market FX non-deliverable forwards (NDFs).

In June, Standard Chartered Bank annoucned plans to establish a Foreign Exchange (FX) e-trading and pricing engine in Singapore to be launched with support from the local regulator, Monetary Authority of Singapore (MAS), by Q1 2020. The new Singapore FX e-trading
infrastructure will provide clients in the region more convenient access to the liquidity of 130 currencies and more than 5,000 currency pairs in Spot, Forward, Swaps, Non-deliverable Forwards (NDFs) and Options.

In 2018, IS Prime launched an NDF and Forward execution facility within its Agency desk in a move to diversify its multi-asset execution offering.