e-Forex
Platform Spotlight
With global currency markets more volatile than ever, buy-side clients in the foreign exchange markets are looking for partners they can trust to provide reliable, cost-effective and secure electronic trading services. e-Forex talks to Alfred Schorno at 360 Treasury Systems AG (360T) about how the company's multi-bank platform is meeting this demand.
1. Alfred, 360T was formed in 2000 and maintains a state-of-the-art multi-bank platform for Foreign Exchange, Money Market products and FX/Interest Rate Derivatives. Who are your main clients today?
Banks acting as market taker, corporate treasuries and institutional clients like real money and hedge funds as well as broker/dealer are trading on our multi bank portal.
2. The TEX® Multidealer Trading System is 360T´s global multi-bank portal. How many international and regional liquidity providers are now connected to the platform?
Globally more than 70 market makers are offering pricing across the different OTC products tradeable.
3. What range of integration options is available to customers with TEX®?
Being rated as one of the top provider of integration solutions we offer and maintain online deal export interfaces to most treasury or portfolio management systems. Online order routing via an upload API is also available.
4. What do clients particularly like about TEX® and what are the key benefits the platform offers them?
Being the only real multi-product portal, customer value highly the fact that TEX® enables trading in a wide range of FX and money market products including FX options, FX limit orders, money market funds, as well as precious metals and also interest rate derivatives. Then, beside the fact that 360T offers unlimited access to the full bank basket of buy-side customers, it is also well appreciated that we are the only multi-bank platform not owned by banks. Also our strong service orientation is highly valued by our customers.
5. What trade execution options are available on TEX®?
Customers can choose between Request-for-Streaming (RFS), Streaming Executable Rates (SEP) and limit orders with a wide range of order types.
6. 360T also provides an Intra-Group Trading system called I-TEX®. What key features and trading functionality does I-TEX® support?
I-TEX® offers well focussed range of features to the different user groups:
For market taker banks our white label trading / single bank trading solution can support all products types as available on our multi-bank portal TEX®. On customer wish the offering can of course be limited in terms of products. Furthermore we just launched our enhanced FX margin trading and position management tool to cater FX spot trading for margin trading customers.
Corporates can link the world wide subsidiaries and centralize FX and intra group financing transactions in one or more central treasury hubs.
Asset managers use us to centralize market or limit orders in a central execution desk and aggregate or group transactions easily before execution to the market.
Our integrated auto dealers support all I-TEX®-trading hubs with a wide range of features including spread management, internal and external counterparty limit control as well as price management via back-to-back market liquidity.
7. How have you extended the traditional features available on I-TEX®?
The latest and most important enhancements are
- Enhanced features for FX margin trading
- Additional routing rules for the auto dealer with minimum spread management, trader spreads
- Extended possibilities to set up external bank baskets
- Market link (back-to-back functionality) supporting also limit orders
8. What plans does 360T have for extending the range of products and services available on your multi-bank platform?
First priority is to maintain and support the existing already quite wide range of services and products but we are always open to discuss customer requests. Lately enquiries to enhance FX option trading to volatility quotes, not limited to live prices as today, and also trading features for base metals have summed up. We are carefully evaluating this and other options.
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