M&G Investments upgrades FX EMS with Deutsche Börse’s 360T

360T was chosen by M&G to implement workflow technology following extensive selection process.

Deutsche Börse Group’s foreign exchange (FX) technology company 360T has been chosen by M&G Investments to upgrade its workflow technology for order handling and execution.

360T will implement its execution management system (EMS) service for FX and money markets, following an extensive selection process according to the German exchange group.

The FX technology provider said the firm’s objective to ensure its EMS meets costs, regulatory and best execution requirements was key to its selection by M&G Investments.

“A changing landscape of regulation is putting more and more pressure on buy-side organisations to be compliant,” said chief executive officer at 360T, Carlo Kölzer.

“With our existing franchise and three years of additional investment in products and people, we believe 2018 will be a watershed year as this underserved section of the FX industry reacts to a transitional regulatory environment.”

Deutsche Börse acquired German FX trading platform 360T for €725 million in 2015, as it sought to become a leading marketplace for multiple asset classes. Its client base consists of corporate and buy-side firms, as well as banks. 

The exchange said last month that despite the majority of daily FX trading volumes currently being executed off-exchange, demand for transparent, electronic, multi-bank trading platforms such as 360T is increasing.

“Our core belief is that our mandate is not just to connect our clients to liquidity sources, but also to achieve a better outcome ultimately for the asset owner, from the implementation of a rigorous policy driven execution process,” head of UK institutional sales at 360T, Andrew Priest, added.

“This belief is not derived from theoretical opinions or analysis, but as a result of working with our clients to implement their goals.”