BidFX welcomes ANZ to roster of Algo Liquidity Providers on its FX platform

Rick Steves

BidFX, a leading Electronic Management System (EMS) vendor in the $7.5 trillion daily FX market, has welcomed ANZ as its latest Algo liquidity provider.

The foreign exchange (FX) market, with its colossal daily trading volume of $7.5 trillion, continues to evolve and embrace technological advancements.

In a significant development for the industry, BidFX, a prominent EMS vendor, has announced the addition of ANZ bank to its roster of Algo liquidity providers. This collaboration marks a strategic move that could empower FX traders and institutions seeking enhanced liquidity and execution capabilities.

ANZ enhancing FX algo execution at BidFX

ANZ bank’s decision to join BidFX as an Algo liquidity provider opens up a world of opportunities for clients seeking efficient and strategic FX algorithmic execution. ANZ’s strong presence and unique offerings in the FX market can provide significant advantages to BidFX clients.

With ANZ as an Algo liquidity provider, clients gain access to the bank’s diverse liquidity pools, adding depth and flexibility to their FX trading strategies. ANZ’s expertise in the Australian dollar, New Zealand dollar, and Asian markets positions it as a valuable resource for institutions looking to navigate these currencies efficiently.

ANZ’s reputation, robust credit rating, and risk appetite make it a reliable partner for clients looking to hedge FX exposures. The ability to access ANZ’s extensive Asian franchise is particularly advantageous for institutions operating in this region. ANZ’s strong presence in Asia ensures that clients can tap into local expertise and liquidity pools, optimizing their FX trading strategies.

In addition to liquidity access, ANZ offers a comprehensive suite of tools and services to support FX algo execution clients. Meeting reporting obligations with transaction cost analysis (TCA) becomes more manageable, allowing clients to assess the effectiveness of their trading strategies and make data-driven decisions.

ANZ bringing unique AUD, NZD, and Asian franchise to BidFX Algo Hub

One of the primary advantages of partnering with ANZ through BidFX is the ability to define and control execution parameters. Clients can fine-tune their trading strategies based on timing, pricing, and chosen methods, all while considering prevailing market conditions. This level of customization empowers institutions to adapt quickly to changing market dynamics, ensuring they remain competitive and agile.

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 CRO, 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 Algo’s 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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