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 . 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 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.
