FactSet leverages Digital Vega partnership to expand into FX options

Through the collaboration, FactSet will expand its offering and Digital Vega will add to both its distribution and client base.

FX options e-trading platform and trading solutions provider Digital Vega has been integrated into FactSet’s FX execution management system, Portware as both look to enhance their respective offerings. 

John Marchese

Through the collaboration, FactSet will expand its offering to include FX options on top of its existing fixed income, equities, futures and FX services. At the same time, the partnership will allow Digital Vega will add to both its distribution and client base.

Speaking from the buy-side perspective, Toby Baker, head of FX trading at T. Rowe Price, said: “For some time, we have been using Portware for our day-to-day cash trading requirements and have also been aware of Digital Vega’s capabilities. Adding Digital Vega’s FX options liquidity and workflow management into Portware’s EMS to provide a single, fully integrated solution will bring huge benefits to the team.”

Asset Managers continue to look for new ways to maximise workflow efficiencies, with e-trading for FX options one key focus.

Across the market, FX options workflows are becoming increasingly automated due to increased regulation and efficiency, driving volume growth in electronic trading. 

John Marchese, head of FX sales at FactSet, explained: “As the FX options market has become increasingly electronic, we wanted to work with a best-in-class e-FX options provider in that market. Adding FX options to Portware was a logical decision, which will provide our clients with high levels of workflow automation by our EMS, combined with a deep pool of liquidity from Digital Vega.” 

Portware allows asset managers to access a single method of execution across all assets. Through the integrating with Digital clients will specifically be able to automate complex FX options workflows and access pricing in an extensive list of currencies. 

Read more: FactSet to offer BondCliQ corporate bond pre-trade data

“Growing regulatory pressure and increasing competition is driving demand for more automated and efficient solutions. By partnering with FactSet we are able to extend our coverage to large asset managers, which will deepen liquidity for the benefit of all our clients,” asserted Mark Suter, executive chair and co-founder of Digital Vega.