Frankfurt – December 12, 2019 – 360T, Deutsche Börse’s FX unit and global provider of a multi-bank, multi-asset trading platform, today announced the launch of 360TGTX MidMatch, a fully automated FX Swaps limit orderbook with mid-rate matching capability.
360TGTX MidMatch is an innovative offering for FX Swaps traders and a natural progression in the continuing trend towards automation within the FX Swaps business. A fully visible limit orderbook will allow Market Makers to stream curves out to two years, while the Swaps Data Feed that 360T has spent two years developing with 20 bank partners, will act as mid-reference for grey-book risk exchange.
A Multilateral Trading Facility, 360TGTX MidMatch is designed with full audit and surveillance capabilities as well as the full reporting suite required of regulated venues.
ANZ and Commerzbank were the first banks to execute trades on the new service.
“We are pleased to be part of the launch of a product that will improve transparency and help to further develop digital access for our clients” said John Juer, Head of FX & Rates Flow at Commerzbank.
David Thorne, Head of eFX Trading in EMEA at ANZ commented “The ability to electronically exchange risk at mid, comes at an opportune time in the FX Swap market where low volatility has led to spread compression and dealers are looking for more advanced order types to help them manage their exposures”.
“This is a paradigm shift for the FX Swaps market. Capabilities that have been available within the Spot market and across other asset classes for many years will now be accessible in one of the most important and biggest markets in the world. We built this with both the trader and the auto-hedger in mind, allowing Market Takers to become Market Makers and greatly improving price discovery. Offering options which allow participants to fully automate the credit process has been a long road but this will change the way FX Swaps are executed” said Simon Jones, Chief Growth Officer at 360T.
Claudia Stirner / Head of Marketing & Communication 360T Group
Telephone: +49 69 900 289 112
About 360T Group
360T is an independent and globally-established trading venue. As Deutsche Boerse Group’s FX unit, 360T provides a web-based trading technology for over-the-counter (OTC) instruments, integration solutions and related services. Since its inception in 2000, the company has developed and maintained a state-of-the-art multi-bank portal for foreign exchange, cash and money market products and FX/interest rate derivatives.
360T’s secure global transaction network enables clients to trade with greater transparency and enhanced control at every stage of the trading lifecycle. The company also offers licensing of a hosted white labelled trading technology between a scalable group of price-takers and either proprietary price providers or a rich choice of back-to-back liquidity sources. 360T’s buy-side clients are national and multinational corporate treasuries, institutional clients (asset managers, hedge funds, commodity trading advisors), broker/dealers and banks. The company is authorized under German law and regulated by the German Federal Financial Supervisory Authority (BaFin).
Headquartered in Frankfurt am Main, Germany, 360T maintains subsidiaries in New York (360 Trading Networks Inc), Singapore (360T Asia Pacific Pte. Ltd.), India (ThreeSixty Trading Networks (India) Pvt Ltd) and Dubai (360 Trading Networks LLC).
Further information: www.360t.com