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360T SUN extends API pricing to Asia Open<br />
360T’s Swaps User Network (SUN) has<br />
become the first platform to offer round<br />
the clock API pricing for FX Swaps,<br />
with Commerzbank now providing<br />
prices for G3 currencies and USD/<br />
CNH from the APAC market opening.<br />
These developments are indicative of<br />
the growing interest from regional<br />
currency experts in providing pricing on<br />
360T SUN due to the improved price<br />
transparency and credit automation<br />
it offers. Leveraging an indicative<br />
streaming mid-rate that comes from<br />
360T’s award-winning Swap Data<br />
Feed (SDF), developed in partnership<br />
with DIGITEC, the platform provides<br />
grey-book risk exchange at mid-market.<br />
360T SUN also allows both GUI and API<br />
users to post resting bids and offers,<br />
using a choice of different automated<br />
Robin Nicholas<br />
credit models that remove the risk and<br />
latency of soft-matching. In addition,<br />
China Construction Bank (CCB), London<br />
Branch is also now providing liquidity<br />
in USD/CNH during the London trading<br />
hours in standard tenors out to 1 year.<br />
“Extending the API pricing on 360T SUN<br />
to provide continual interests across<br />
all market hours further enhances the<br />
value which the platform delivers to<br />
our global client base. Adding pricing<br />
for USD/CNH, meanwhile, is a strategic<br />
decision made on the basis of growing<br />
demand for Swap liquidity in this<br />
currency pair,” said Robin Nicholas,<br />
Head of Swap Product at 360T.<br />
NEWS<br />
LMAX Group granted RMO Licence from the MAS<br />
LMAX Group has announced that its<br />
subsidiary, LMAX Exchange Singapore, has<br />
received a Recognised Market Operator<br />
(RMO) Licence from the Monetary Authority<br />
of Singapore (MAS). The licence will<br />
enable the Group to offer Non-Deliverable<br />
Forward (NDF) trading in Singapore (SG1)<br />
and London (LD4). The launch of NDFs will<br />
allow clients to hedge their FX exposure<br />
against non-convertible currencies on a<br />
Central Limit Order Book (CLOB), delivering<br />
transparent price discovery, deeper liquidity<br />
and efficient market structure, streaming<br />
real-time, firm limit order market data to all<br />
participants. LMAX Group is committed<br />
to building an increasingly diversified<br />
offering to support growing demand<br />
from institutional investors for consistent,<br />
low-latency trading infrastructure. David<br />
Mercer, CEO, LMAX Group, said: “The<br />
David Mercer<br />
Monetary Authority of Singapore is among<br />
the most progressive and innovative<br />
regulators globally. We look forward to<br />
a continued, symbiotic relationship with<br />
MAS as we progress our expansion plans<br />
and build out our cross-asset product<br />
offering in the region for the benefit of local<br />
customers and the broader, vibrant, Asia<br />
Pacific market.” Receipt of an RMO licence<br />
recognises LMAX Group’s compliance with<br />
the principles set out by the regulator in<br />
accordance with international standards<br />
and best practices, whilst upholding<br />
stringent conduct around compliance, risk<br />
management and corporate governance.<br />
FXSpotStream joins the FairXchange ecosystem<br />
FXSpotStream has integrated Horizon,<br />
FairXchange’s, award-winning data<br />
analytics platform, enhancing real-time<br />
analytics for more precise trading<br />
execution and analysis. Horizon will<br />
help the Liquidity Management team at<br />
FXSpotStream manage relationships with<br />
both Price Takers and Liquidity Providing<br />
Banks. FXSpotStream clients will get<br />
unparalleled insights into their execution,<br />
helping them optimise their trading and<br />
strengthen their relationships with their<br />
liquidity providers. “FXSpotStream is one<br />
of the undisputed leaders in the provision<br />
of aggregation services, a unique<br />
technology provider that delivers crucial<br />
efficiencies to the FX trading community.<br />
We are delighted to be working with<br />
them to deliver our award-winning<br />
Guy Hopkins<br />
Horizon platform, bringing together<br />
FXSpotStream’s trading services with our<br />
market-leading, independent analytics,”<br />
says Guy Hopkins, CEO and founder of<br />
FairXchange. “We are always looking<br />
for ways to enhance our offering for<br />
both clients and LPs, and FairXchange’s<br />
Horizon platform will allow our clients<br />
to make informed decisions regarding<br />
their liquidity. FairXchange has developed<br />
a tremendous product and we are very<br />
excited to be working with them,”<br />
FXSpotStream Head of Sales, Antony<br />
Brocksom commented.<br />
6 NOVEMBER 20<strong>23</strong> e-FOREX
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