BidFX launches FX trading analytics suite 

The suite from BidFX allows banks, hedge funds and asset managers to manage client-specific liquidity streams and monitor composite rates across FX products. 

FX platform provider BidFX has unveiled a new data and analytics suite aimed at providing institutions better FX pricing and liquidity insights.

Named BidFX Data and Analytics, the new suite will allow traders to manage collection and storage of data relating to liquidity streams on the cloud, while also monitoring rates across FX products. 

“The ability to efficiently harness, normalise and analyse FX data has become increasingly vital for refining execution strategies and evaluating counterparties,” said Daniel Chambers, BidFX global head of data and analytics. 

“The launch of this product arms our clients with tools to provide valuable insights in real time. Today, having a secure platform is not enough; traders need access to fast and reliable market data and analytics. The latest expansion of the BidFX suite greatly streamlines market analysis, liquidity provision, back-testing and more, making it an essential addition to any FX trader’s toolkit.”

BidFX was recently  acquired fully by the Singapore Exchange for $128 million after the deal was agreed in June. It now has more than 100 banks, hedge funds, and asset managers connected to its platform.

The data and analytics suite joins BidFX’s existing institutional offering including and execution management services (EMS) platform, risk and compliance modules, and transaction cost analysis

The firm recently extended the level of execution flexibility available to users of its platform with the addition of State Street’s suite of algorithms in December. State Street’s four algorithmic strategies will give users more flexibility in execution by tailoring approaches to client requirements and trading preferences.