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360TGTX MidMatch

360TGTX MidMatch is a limit orderbook and delivers, via the Swaps Data Feed, a risk offset pool giving members the opportunity to reduce execution costs.

360T introduces an innovative new MiFID II compliant product to their existing MTF offering. 360TGTX MidMatch will provide an FX Swaps mid-market risk exchange and limit order book enabling the FX Swaps trading community to trade electronically via a GUI or API connection. New functionalities, such as Spot linked sensitivity orders, partial fills, granular relationship management, automated credit models and full STP replace the manual processes that exist in the FX Swaps world today.

Price transparency through an indicative streaming independent mid-market rate allows members to submit interest to buy or sell with intent protection. Neither the size, nor the direction of the order intent is visible within the mid-book.

A limit order book provides access to firm bid and offer liquidity.

Indicative mid is provided by the 360T product the Swaps Data Feed (SDF). The SDF is composed of twenty independent bank swap curves and delivers real-time data across the curve from O/N out to two years. Using sophisticated and transparent methodology, the SDF delivers not only market data for standard tenors, but also streams mid prices around IMMs, quarterly turns and broken dates. The 360T SDF is available in G10, EM and NDF currencies.

Members can elect to have partial fills and set the minimum clip size that they are prepared to match on.

MidMatch will be available to traders through the 360T Bridge GUI.

e-FX desks can connect electronically via FIX API. Allowing both streaming prices to the limit order book and mid order placement.

Round the clock access to liquidity in G10, EM and NDF currency pairs.

Counterparty permission tools allow greater granularity of relationship management by currency pair, tenor and direction.

A bilateral automated credit model provided through a choice of pre-trade risk limits or API connectivity. Trades are routed systematically to provide credit and processing efficiencies, removing the manual credit check for FX Swaps trading.

For more information please contact your account manager.

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