NEX Group's Swap Execution Facility Has Gone Live

NEX Group Plc (NEX), a financial Technology Provider Technology Provider A technology provider is an individual, company, or entity that creates, render services and sells software applications or hardware. Currently, there are four types of tech providers which are as followed:Software-as-a-Service (SaaS) – Functioning as a subscription-based licensing and delivery model, SaaS is centrally hosted and may also be referred to as on-demand software. Tech Hardware – Powerful tech providers such as Apple, Oculus Rift, FitBit, and Samsung are examples of tech hardware pro A technology provider is an individual, company, or entity that creates, render services and sells software applications or hardware. Currently, there are four types of tech providers which are as followed:Software-as-a-Service (SaaS) – Functioning as a subscription-based licensing and delivery model, SaaS is centrally hosted and may also be referred to as on-demand software. Tech Hardware – Powerful tech providers such as Apple, Oculus Rift, FitBit, and Samsung are examples of tech hardware pro Read this Term, made an official announcement that NEX SEF has gone live as of July 3, 2017. NEX SEF is a swap Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term facility that received the green light by regulatory authorities to operate in the United States and Europe.

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NEX SEF received the aforementioned authorization from both the Commodity Futures Trading Commission (CFTC) and the Financial Conduct Authority (FCA). NEX SEF was authorized to offer financial services to American clients by the first regulatory body back in April this year. The British regulatory authority has also opened the gates, letting NEX SEF into Europe. NEX SEF has further received the approval of Ontario Securities Commission (OSC), allowing it to approach clientele in Ontario, Canada.

NEX SEF will serve as a Multi-Lateral Trading Facility (MTF), and will operate according to the MiFID legislation. Once MiFID II comes into effect January 3, 2017, the NEX SEF will act according to the implemented changes. NEX SEF will begin by offering clients Non-Deliverable Forwards (NDFs) on NEX Markets’ EBS Market platform, and will add more assets and services at a later stage.

Seth Johnson, CEO of NEX Markets, commented that NEX SEF will play a considerable part in the trading experience that the NEX trading environments are offering to traders. “We are pleased to bring NDF trading to NEX SEF and will continue to evolve the platform alongside our customers,” Johnson said.

Earlier this week, NEX Optimization implemented a new over-the-counter (OTC) forex settlement service, designed to enhance facilitation and streamline bilateral settlement netting processes.