Euronext FX

FastMatch Rebranded Euronext FX as Asian Expansion Continues


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.

Euronext has rebranded its FastMatch into Euronext FX as a new step in the further integration of its Electronic Communication Network (ECN) for Foreign Exchange (FX) trading.

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.

FastMatch, now Euronext FX, has reported a strong rebound in operating performance in March with total trading volume coming in at $441.8 billion, which is 22 per cent higher from $363 billion in February 2019. The average daily volume in the spot foreign exchange market came in at $21 billion which 16 per cent higher on a month-on-month basis from $18.14 bn and is also highest since August 2017.
The strong performance is driven by the company’s expansion in the Asian market through the availability of its technology platform to become one of the dominant players in the market. The rapid Asian development has led the firm to set up a new matching engine in Singapore which will be fully operational in Q4 2019.