360T's streaming NDFs, designed to complement our disclosed RFS offering, are a response to market demand for an alternative hedging venue.

A desire for real-time price discovery coupled with the advent of algorithmic execution in the NDF market is driving increased demand for streaming prices. This demand is only expected to grow as more NDF trading activity shifts towards electronic trading channels. That’s why we have leveraged our existing and proven low latency technology infrastructure to offer live streaming pricing in four key NDF currency pairs alongside the traditional RFS function.

Benefits

Multiple Credit Solutions

We support three different credit models for streaming NDFs trading – bilateral, prime broker (PB) intermediated and the Standard Chartered Bank (SCB) credit hub/CCP – offering the maximum possible flexibility for accessing this service. PB and credit hub intermediated trading is anonymous, but bilateral trading can include post-trade name give-up.

Additional Liquidity Sources

By supporting PB intermediated trading we have opened the door to non-traditional liquidity providers to trade our streaming NDFs, expanding the LP pool and ensuring that consumers ultimately benefit from narrower bid-offer spreads.

A Distinctive Ecosystem

One distinguishing feature of 360T is our large, diverse client base which comprises over 2,100 organisations across the globe. By coupling this with our deep pool of more than 200 liquidity providers, 360T is in a unique position of being able to connect local onshore liquidity in developing markets with a worldwide community of offshore users to create a truly global liquidity pool for streaming NDFs.

Enhanced Execution Performance

The ability to execute in an undisclosed manner with a broad selection of counterparties via a CCP enables firms to deploy a wider range of trading strategies, whilst simultaneously reducing their market impact.

Core Features

Four pairs are available to trade: USD/INR, USD/KRW, USD/TWD and USD/BRL.
All currency pairs have a one-month tenor.
Minimum notional USD 1mln, with one million increments
Aggregated streaming NDF liquidity from both bank and non-bank providers
There are pre-set standardised fixing references
Multiple Access Points: GTX API, Taker API and Bridge
Resting orders are available via GTX API and GUI. In Bridge it is taker-only
360T can support both off-SEF and SEF trading. All off-SEF trading goes through LD4, all SEF trading goes through NY4
We support both anonymous and disclosed trading for streaming NDFs

Streaming NDFs: Building a Better Marketplace

Additional Resources
Download the Whitepaper

Streaming NDFs

Additional Resources
Download the Fact Card