Digital Vega Links Up with FactSet to Broaden FX Options Reach

Tuesday, 25/06/2024 | 09:05 GMT by Tareq Sikder

The collaboration expands Portware's asset coverage to include FX Options.

Portware now supports FX Options trading through Digital Vega, enhancing liquidity and automation.

Digital Vega, the FX Options e-trading platform and provider of FX Options trading solutions, announced today (Tuesday) that its service is now integrated with FactSet’s FX execution management system, Portware.

Expanding Reach with Integration

This integration will expand Digital Vega’s distribution and client base. FactSet will now be able to offer FX Options in addition to its existing coverage of Fixed Income, Equities , Futures, and FX.

Mark Suter, Executive Chairman and Co-Founder, Digital Vega, Source: LinkedIn

The move towards regulation and efficiency is driving increased automation in FX Options workflows. This automation is leading to a rise in electronic trading volumes. Asset Managers are seeking to enhance workflow efficiencies and are increasingly utilizing electronic trading for FX Options alongside other asset classes.

“Growing regulatory pressure and increasing competition is driving demand for more automated and efficient solutions. By partnering with FactSet we are able to extend our coverage to large Asset Managers, which will deepen liquidity for the benefit of all our clients."

"We are fortunate to be recognised as a leader in our field, and as a specialist provider of FX Options technology we have successfully automated some of the most complex trading workflows. We look forward to continuing our collaboration with FactSet," said Mark Suter, Executive Chairman and Co-Founder, Digital Vega.

FX Options Automation

FactSet’s Portware platform offers Asset Managers a unified method of execution across various assets. It combines deep liquidity with high levels of automation . By integrating with Digital Vega, clients can automate complex FX Options workflows and access pricing for a wide range of currencies from a large group of Liquidity Providers.

John Marchese, Head of FX Sales at FactSet commented, “As the FX Options market has become increasingly electronic, we wanted to work with a best-in-class e-FX Options provider in that market. Adding FX Options to Portware was a logical decision, which will provide our clients with high levels of workflow automation by our EMS, combined with a deep pool of liquidity from Digital Vega.”