360T, a provider of FX trading solutions, has enabled
mid-liquidity streaming via APIs on its Swap User Network (SUN). The initial
trade was executed by Deutsche Bank and ING, marking a significant development
for the FX Swaps market.
360T SUN is currently
the sole platform providing continuous mid-price streaming for FX Swap
instruments. According to the company, the innovation caters to the growing
demand for clients seeking access to FX Swaps.
Shuo Wu, the Global Head
of Forward e-trading at Deutsche Bank, said: “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.”
360T has expressed
confidence that this milestone will fundamentally change how banks approach the trading of FX
Swaps. The company noted that it paves the way for auto-hedging,
aggregation, and algorithmic execution. 360T SUN aims to empower bank partners
to enhance their trading capabilities to enhance growth in the FX Swaps market.
360 T’s innovation
arrived when the forex trading landscape was experiencing
mixed performance,
reflecting the influence of market conditions and trading dynamics across
different platforms. For instance, Cboe FX witnessed a blend of positive and
negative indicators in August.
The US-based platform
reported a total trading volume of $944 billion, a notable increase from the
previous month’s figure of $922 billion. However, the average daily volume
(ADV) for spot FX faced a decline, dropping from nearly $44 billion to
$41 billion. This dip can be attributed to August having more trading days (23
days) compared to July (21 days).
FX Market Experiences
Declining Trading Volume
Similarly, 360T
experienced a significant downturn in August as its total trading volume for
the month amounted to $508 billion, marking a substantial decrease from July’s
$616 billion. On a different note, Euronext FX saw its monthly volumes rise to
$518 billion, surpassing the $492 billion reported in the previous month.
According to a report by Finance Magnates, the decline in
market volatility had a noticeable impact on forex trading operations,
resulting in narrower profit margins for financial institutions. Research from
BCG Expand suggests that income from foreign exchange activities among the top
100 banks declined
15% in the first half of 2023.
Similarly, centralized
trading exchanges (CEXs) also experienced a decrease in aggregate trading
volumes for spot derivatives, falling by 12% to $236 trillion in July. This
trend can potentially hinder the economic rebound following the disruptions
caused by the Covid-19 crisis.
360T, a provider of FX trading solutions, has enabled
mid-liquidity streaming via APIs on its Swap User Network (SUN). The initial
trade was executed by Deutsche Bank and ING, marking a significant development
for the FX Swaps market.
360T SUN is currently
the sole platform providing continuous mid-price streaming for FX Swap
instruments. According to the company, the innovation caters to the growing
demand for clients seeking access to FX Swaps.
Shuo Wu, the Global Head
of Forward e-trading at Deutsche Bank, said: “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.”
360T has expressed
confidence that this milestone will fundamentally change how banks approach the trading of FX
Swaps. The company noted that it paves the way for auto-hedging,
aggregation, and algorithmic execution. 360T SUN aims to empower bank partners
to enhance their trading capabilities to enhance growth in the FX Swaps market.
360 T’s innovation
arrived when the forex trading landscape was experiencing
mixed performance,
reflecting the influence of market conditions and trading dynamics across
different platforms. For instance, Cboe FX witnessed a blend of positive and
negative indicators in August.
The US-based platform
reported a total trading volume of $944 billion, a notable increase from the
previous month’s figure of $922 billion. However, the average daily volume
(ADV) for spot FX faced a decline, dropping from nearly $44 billion to
$41 billion. This dip can be attributed to August having more trading days (23
days) compared to July (21 days).
FX Market Experiences
Declining Trading Volume
Similarly, 360T
experienced a significant downturn in August as its total trading volume for
the month amounted to $508 billion, marking a substantial decrease from July’s
$616 billion. On a different note, Euronext FX saw its monthly volumes rise to
$518 billion, surpassing the $492 billion reported in the previous month.
According to a report by Finance Magnates, the decline in
market volatility had a noticeable impact on forex trading operations,
resulting in narrower profit margins for financial institutions. Research from
BCG Expand suggests that income from foreign exchange activities among the top
100 banks declined
15% in the first half of 2023.
Similarly, centralized
trading exchanges (CEXs) also experienced a decrease in aggregate trading
volumes for spot derivatives, falling by 12% to $236 trillion in July. This
trend can potentially hinder the economic rebound following the disruptions
caused by the Covid-19 crisis.
