BidFX, an execution management system (EMS) vendor serving the US$7.5 trillion daily FX market, has announced that ANZ bank has joined BidFX as its newest algo liquidity provider.
Using ANZ for FX algorithmic execution, clients can tap into the FX market with ANZ’s access to unique liquidity pools. In addition, firms will be able to access ANZ’s Australian dollar, New Zealand dollar and Asian franchise, leveraging the bank’s credit rating and risk appetite. Hedging FX exposures while meeting reporting obligations with transaction cost analysis (TCA), as well as defining and controlling parameters including timing, price, and chosen strategy, all with prevailing market conditions, are other benefits FX algo execution clients can experience.
ANZ head of eFICC Luke Marriott said: “ANZ is pleased to collaborate with BidFX, bringing our FX algorithmic execution offering to the BidFX Algo Hub. We see synergy in bringing our unique AUD, NZD and Asian franchise to our mutual clients throughout Asia and across the globe.”
BidFX chief revenue officer, John McGrath, added: “ANZ has a unique position in the eFX market in terms of its liquidity franchise and we have seen strong demand from our sophisticated institutional clients for ANZ algos on BidFX. We are thrilled to have them go live on the BidFX platform and offer clients unique liquidity from their franchise.”
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