Foreign Exchange

Through the partnership, mutual clients will have access to a new decision-making suite in FactSet’s EMS to support pre-trade execution routing decisions for the buy-side.

The offering works from price discovery through to execution, booking, and risk management within the FX options market – combining SpectrAxe’s price discovery and execution CLOB with OSTTRA’s post-trade network.

The move will enable Wells Fargo access to ForexClear’s margin, liquidity and netting opportunities.

Users of the platform will benefit from improved returns and strategy diversification when using its active hedging solution.

The multi-currency settlement system has seen no decrease in values or volumes suggesting no shift to bilateral settlement, though some trends are emerging with regards to submissions to CLS.

Called Horizon Sentinel, the tool can automatically notify firms of significant changes in transaction costs or notable changes in trading activity from a particular set of clients.

Expanded partnership will help BNP Paribas address “regulatory concerns and set a new standard for precision […] in market operations”.

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

The drama around cut-offs at CLS and custodians prior to the T+1 implementation had many believing the FX market would alter drastically, but so far, it’s business as usual over the first three weeks of the shortened settlement cycle as the first big public holiday – and major test – approaches.

New FX NDFs are traded on a central limit order book, delivering transparent price discovery and execution to all market participants.