Digital Vega Partners with Standard Chartered As Liquidity Provider - The Industry Spread

Karthik Subramanian

Karthik Subramanian has been a professional trader and fund manager over the last 18 years. He is basically a software developer who made the transition to financial domain around 18 years back as the attractiveness of the financial markets proved too much for him. He lives in Chennai in India along with his wife and son. He began his career as a software developer in 1999 and then gradually moved into the financial industry as he began trading stocks in his pastime. He then moved into the financial markets full time and then shifted his focus to the FX markets due to the liquid nature of these markets. Since then, he has been trading FX diligently and his favourite pair are the EURUSD and EURJPY. Over the last couple of years, he has found blockchain to be of high interest and considering his background in software and finance, he has since assembled a team of highly talented developers who have since worked on a variety of projects like crypto exchanges and blockchain architecturing. Now, he balances his time between trading and commenting on both the FX and crypto markets. He has worked with many publications including FX Street and Finance Magnates, which has helped him gain experience and also recognition across the industry. He loves to write and this passion has helped him to reach out across the FX and crypto industry. Right now, he works on his pet projects in the FX and crypto industry and spends his time writing and managing his blockchain team and helping it to reach higher.

Digital Vega Partners with Standard Chartered As Liquidity Provider

July 24, 2019

As per recent announcement made by the firm, UK based forex trading solutions provider Digital Vega, UK based banking and financial service provider Standard Chartered has partnered with the firm to gain access to the former’s liquidity service platform Medusa. According to Digital Vega’s website, Medusa is a web based platform designed to revolutionise the way FX options are traded via offering a slew of benefits such as aggregated competitive pricing in single intuitive GUI, comprehensive pre and post trade execution management tools and sophisticated reporting. The platform delivers competing pricing from up to 5 banks, streams across a range of option structures and over 60+ currency pairs. The deal enables the UK based financial service provider to join the club of tier 1 financial firm that provides liquidity service to clients using Medusa platform.

Aside from Standard Chartered, Some of the other major tier 1 financial sector firms which act as liquidity providers via Medusa platform are HSBC, JP Morgan and Bank of America Merrill Lynch. Speaking about this deal, Alex Axentiev, Managing Director at Standard Chartered commented, “As more of our clients adopt electronic trading it is important that we serve them via their preferred channels on a global basis, which includes Digital Vega’s Medusa platform. This is particularly important as we continue to grow our FX Options business. We have been impressed with Digital Vega’s platform from the outset and look forward to continuing our close working relationship in the future”. Standard Chartered currently traders in more than 100 currencies and provides pricing in a large ser of emerging markets and G10 countries.

The firm also revealed plans to set up a pricing engine for forex trading in Singapore with support from Monetary Authority of Singapore earlier this year. Speaking about this deal, Mark Suter, Executive Chairman of Digital Vega commented, “We are delighted that Standard Chartered has joined Medusa, bringing a strength and depth in emerging markets to our clients, and we look forward to working with them on our FX options platform, and a range of planned new services. The FX options market continues to migrate to electronic trading channels, with the pace of change accelerating, due to regulation, transparency and increased efficiency. Clients are increasingly asking for help to evidence best execution, and as the leading multi dealer platform, we are able to do just that”.

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