Frankfurt – September 13, 2023 – Streaming mid liquidity via APIs is now available on 360T’s Swaps User Network (SUN), with Deutsche Bank and ING executing the initial trade.
This is the first time that two banks have been able to trade FX Swaps via API and match at the market midpoint, marking a paradigm shift for the industry.
360T SUN is also currently the only platform which offers a continuous streaming mid-price for FX Swap instruments.
“Establishing a marketplace that facilitates risk offset at the mid—market level signifies the next phase in the advancement of FX swaps trading. This development finally delivers for the industry opportunities that have long been present in smaller markets, and empowers us to better cater to the rising client demand for access to these products“ said Shuo Wu Global Head of Forward eTrading at Deutsche Bank.
“Trading FX Swaps via API and executing at mid can deliver significant benefits. The ability to auto price FX Swaps offers more efficient execution for our clients while enabling us to hedge our own risk better, and we’re delighted to now be deploying this technology” said Simon Bevan, Head eFX Trading, ING.
“We’re confident that this will mark a fundamental change in how banks trade FX Swaps, opening the door to auto-hedging, aggregation and even algorithmic execution. 360T SUN will ultimately allow our bank partners to better service their clients and enhance their own trading capabilities while unlocking further growth in the FX Swaps market” said Simon Jones, Chief Growth Officer at 360T.
360T SUN was named as the Best Sell-Side OTC Trading Initiative for the second year running at the Sell-Side Technology Awards 2023, hosted by WatersTechnology, and the Best Venue for FX Derivatives at the FX Markets Asia Awards 2023.
The 360T Swaps Data Feed (SDF), which provides the streaming mid-price within 360T SUN, has also won numerous awards, most recently at the 2023 Inside Market Data & Inside Reference Data Awards where it was named as the Best Reference Data Initiative.
About 360T Group
360T is one of the globally leading trading platforms for Foreign Exchange (FX). As Deutsche Börse Group’s powerhouse for FX, 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. With over 2,400 buy-side customers and more than 200 liquidity providers across 75 different countries, 360T is uniquely positioned to connect the global FX industry.
Headquartered in Frankfurt am Main, Germany, 360T maintains subsidiaries in New York (360 Trading Networks Inc), Singapore (360T Asia Pacific Pte. Ltd.), Mumbai (ThreeSixty Trading Networks (India) Pvt Ltd), Kuala Lumpur (360 Trading Networks Sdn Bhd) and Dubai (360 Trading Networks (DIFC) Limited).
Further information: www.360t.com
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