BidFX Expands Product Offering with Data and Analytics Suite

BidFX, a provider of FX trading solutions for institutions, announced today that the company has expanded its product offering with the launch of BidFX Data and Analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision-making. In the trading space, analytics are applied in a predictive manner in an attempt to forecast the price more accurately. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analy Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision-making. In the trading space, analytics are applied in a predictive manner in an attempt to forecast the price more accurately. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analy Read this Term. BidFX is a wholly-owned subsidiary of SGX Group.

According to the official announcement, the newly launched offering will enable financial institutions to manage the collection and cloud storage of client-specific Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term streams. Banks, asset managers and hedge funds can also monitor composite rates across multiple FX products.

BidFX Data and Analytics is the latest addition to the company’s wide list of offerings for financial firms around the world. The company is already offering an EMS platform, risk and compliance modules and transaction cost analysis (TCA) to various companies.

Commenting on the recent announcement, Daniel Chambers, Global Head of Data and Analytics at BidFX, said: “The ability to efficiently harness, normalize and analyze FX data has become increasingly vital for refining execution strategies and evaluating counterparties. The launch of this product arms our clients with tools to provide valuable insights in real-time. Today, having a secure platform is not enough, traders need access to fast and reliable market data and analytics. The latest expansion of the BidFX suite greatly streamlines market analysis, liquidity provision, back-testing and more, making it an essential addition to any FX trader’s toolkit.”

Expansion

Founded in 2017, BidFX is a cloud-based provider of electronic foreign exchange (FX) trading solutions for the global financial marketplace. BidFX has offices in different locations around the world including London, New York, Singapore, Sydney and Milan. The company is now offering services to more than 100 banks, asset managers, and hedge funds worldwide. In September 2020, BidFX launched its flagship desktop forex trading application on OpenFin, an operating system for the financial industry.

Finance Magnates earlier reported about an announcement by State Street, a Massachusetts-based financial services provider. State Street added four foreign exchange (forex) algorithmic strategies on BidFX.