Jean-Philippe Malé
The move comes as the two firms look to bring FX execution closer to institutional investors’ portfolio management workflows.
Kamya Somasundaram, global head of Aladdin enterprise partnerships at BlackRock, said: “Clients are looking for greater connectivity between investment and execution workflows.
“By deepening Aladdin platform’s integration with BidFX and its next generation FX execution capabilities, including real-time pricing and analytics, we will connect portfolio activity, pricing, and execution more efficiently and help clients make more informed decisions.”
The new arrangement builds on the existing connectivity between BidFX and Aladdin.
Specifically, the move is designed to cut operational friction for buy-side desks and give them more efficient access to liquidity, automation and price discovery across a broad range of FX products.
Jean-Philippe Malé, chief executive of SGX FX added: “Institutional investors increasingly want FX execution to connect more seamlessly with the systems they use to manage portfolios and risk.
“Deepening the integration of our BidFX solution with BlackRock’s Aladdin platform will give mutual clients direct access to institutional liquidity, execution tools and analytics, with greater choice and control across the FX trade lifecycle. This partnership extends the reach of SGX FX’s technology and brings our capabilities closer to clients’ everyday investment workflows.”
The deal is the latest in a series of execution partnerships for Aladdin this year.
In February, Deutsche Bank integrated HausFX, its FX-as-a-service platform, with Aladdin, giving mutual clients direct access to FX services across developed, emerging and restricted market currencies.
In June, BlackRock struck a multi-year partnership with Trumid to bring the platform’s credit trading workflows for corporate and emerging market bonds into Aladdin. Under that deal, Aladdin users can send and receive RFQs through Trumid’s Swarms protocol.