Foreign Exchange

The new offering leverages an aggregated pricing engine to provide clients with multi-dealer FX liquidity access through a single prime brokerage relationship. 

The move is expected to enhance transparency in the OTC derivatives market and will allow users to identify market trends and compare activity across various market segments. 

New hire joins after a 16-year tenure at JP Morgan, where he worked across various FX-related positions.  

The trades are facilitated within State Street’s GlobalLINK FX Connect platform; solution allows asset managers to directly match trades with each other while still operating within their existing execution channels.  

The past week has seen various moves across equities and FX.  

The firm will initially enable OTC FX options; collaboration with SGX FX is expected to expand further in the future to enable institutional liquidity provision and execution choice across additional FX products.

The integration will allow Bank of America clients to mitigate cross currency swaps-related risks, and is set to support liquidity optimisation and reduce daily funding requirements.  

The integration is set to boost market visibility and transparency for BCC clients looking to operate in the country’s FX market.  

The new offering will allow clients using State Street’s FX Connect to carry out in-flight TCA and algorithmic controls, to enhance visibility for execution quality and oversight.  

The initial phase of the Chainlink integration will span spot and one-month forward rates across major G10, Asian and emerging market currency pairs.