The change reflects the evolution of FastMatch since it was acquired by Euronext in 2017 as part of the exchange’s strategy to diversify its top line and extend its “best execution” value proposition to an additional asset class.
FastMatch, perceived as an industry disruptor thanks to its award-winning technology, has gained a reputation for its speed and reliability. The FastMatch name will not disappear as it remains the brand name of the trading technology powering Euronext FX.
Kevin Wolf, CEO of Euronext FX, commented:
“This is an important milestone for our teams, which demonstrates Euronext’s commitment to further develop the FX franchise. Being part of Euronext has already helped Euronext FX grow its presence in Europe, access Euronext’s vast and diversified client base, both sell-side and buy-side, and benefit from Euronext’s reputation. Under the stewardship of Euronext, we successfully launched and developed the Euronext FX Tape, an innovative centralized streaming service providing real-time trade data to market participants, and recently announced a new matching engine in Singapore to better serve our Asian customers.”
Since joining Euronext, FastMatch gained operational maturity that comes with relying on the backing of a large and stable organization such as Euronext, which provides with a name and network that allows the new Euronext FX to acquire larger institutional clients and the exchange’s distribution network and infrastructure support.