Börse Group’s 360T taps Virtu for TCA and trading analytics

abdelaziz Fathi

Virtu Financial and Deutsche Börse Group’s FX platform, 360T, have teamed up to improve the foreign exchange trading experience for their clients.

This partnership integrates Virtu’s advanced trading analytics and Transaction Cost Analysis (TCA) into the 360T platform, providing users with detailed insights to optimize their FX trading strategies.

Clients using 360T can now access Virtu’s Trading Analytics, enabling them to monitor and analyze their FX trading activities effectively. This integration is particularly beneficial for Corporate Treasurers managing hedging and funding programs and asset managers executing investment decisions.

One of the key features of this collaboration is the use of Virtu’s ACE Model, a tool designed to assess trading performance and calculate implicit costs under various market conditions. It allows traders to analyze historical data, compare liquidity providers, and utilize data visualization technology.

The service extends to tracking changes in trade conditions or execution venues and applies custom measures for portfolio construction analysis. This includes pre-trade execution strategy selection, performance benchmarking, and integration into clients’ internal applications for comprehensive analysis. Such functionalities are critical for portfolio trading optimization and assessing portfolio liquidity metrics.

For FX and fixed-income investors, this partnership offers valuable insights into the liquidity environment and helps manage volatility. This can lead to reduced trading costs and more effective foreign exchange strategies.

Commenting on the partnership, Kevin O’Connor, Global Head of Analytics at Virtu, stated, “We are delighted to collaborate with 360T to extend our FX Analytics offering to their client base. The FX market is highly electronic and most market participants will benefit from using data analytics and TCA. Virtu Analytics offers a full solution for both Institutional Investors and Corporate Treasurers looking to improve their FX execution. In this partnership, we were able to closely integrate our analytics offering with the 360T platform, providing clients a seamless FX TCA experience.”

Simon Bajec, Head of Market Data Product at 360T, added, “At 360T we are strongly committed to enable transparent and efficient FX trading workflows for our clients. Having direct access to trading data and the ability to analyse that data dynamically is a key component of our client trading experience. By partnering with Virtu, we were able to offer our clients access to best-in-class analytics in a seamless way.”

Virtu Financial, a US-based electronic market maker, initially launched its TCA tool in 2019, addressing the increasing need for transparency in trading foreign exchange and fixed-income markets. This product was developed in response to the need for market participants, especially on the buy-side, to demonstrate best execution.

The addition of TCA functionality for FX trading complements Virtu’s existing products for other asset classes, such as equities, which have already gained widespread usage among asset managers.

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