Russell targets buy-side with FX trading network

Russell Investments, the index specialist, is launching a trading solution for FX markets aimed at institutional investors.

Russell Investments, the index specialist, is launching a trading solution for FX markets aimed at institutional investors.

The Russell FX Network (RFX) has been designed in conjunction with technology provider Integral and will leverage its InvestorFX platform.

It aims to provide the buy-side with an end-to-end trading solution to net, execute and allocate foreign exchange trades.

RFX will enable complex trades to be executed through internal netting withing an investor’s own portfolio and external matching with other buy-siders.

Russell said investors will be able to meet their best execution obligations and reduce the market impact of their FX trades. Orders can be entered electronically or be processed by Russell on behalf of clients.

Joe Hoffman, director of equity derivatives and foreign exchange at Russell, said, “RFX Network provides institutional investors with a revolutionary way to transact their benchmark orders and improve execution at fixing times. This new offering follows a long tradition of innovation from our global implementation team, providing clients and the broader institutional investor community with a comprehensive solution.”

London Stock Exchange Group is currently in the process of acquiring Russell Investments, in a deal worth around $2.7 billion. Completion of the deal was thought to be imminent at the end of 2014.

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