oneZero adds Cboe FX and State Street to its network

Rick Steves

“We facilitate improvements in brokers’ liquidity supply chain which result in better flow for liquidity providers and better relationship management between brokers and LPs.”

oneZero Financial Systems has announced two major additions to the vast network of liquidity providers and venues within its EcoSystem, namely Cboe FX and State Street.

The announcement comes in a busy period for oneZero, with the firm having recently been named a Top Place to Work by The Boston Globe. In September, it became public that Invast Global selected oneZero as their core technology provider for their Multi-asset Prime Services business.

During the summer, oneZero made the Inc. 5000 list of America’s fastest-growing private companies and was named Best Liquidity Aggregator in FX Markets’ e-FX Awards 2022.

Cboe FX and State Street gain access to +200 FX brokerages in oneZero network

Each of the firms will now have access to the more than 200 FX brokerages in the oneZero network, responsible for over 10 million transactions and 150 billion quotes per day across retail and institutional FX markets.

The multi-asset enterprise trading technology solutions provider launched its Institutional Hub in 2019 and has seen rapid adoption among institutional brokers and banks that have replaced legacy systems.

Phil Weisberg, EVP of Strategic Planning and Partnerships at oneZero, said: “At oneZero, we believe in liquidity optimization. We facilitate improvements in brokers’ liquidity supply chain which result in better flow for liquidity providers and better relationship management between brokers and LPs. We have invested heavily into our institutional product function, and we are delighted that Cboe FX and State Street will see the benefits of this.”

Cboe FX diversifies liquidity options at oneZero

Cboe FX brings the benefits of an independent, transparent market structure, and will take advantage of custom liquidity pools to meet participants’ execution criteria, with configurable firm and non-firm streaming quotes for tailored liquidity needs.

Ben Leit, Vice President and Global Head of FX Sales at Cboe FX, commented: “I am really pleased that Cboe FX is working with the team at oneZero. Together, we can deliver a really positive trading experience for the end-customer, combining oneZero’s technology with Cboe FX’s deep and robust liquidity pool, and with oneZero’s clients now benefiting from having more diverse liquidity options available to them.”

State Street to tap customized liquidity

State Street will utilize both shared and tailored streams via direct relationships with their liquidity consumers. They will be able to send clients a customized, unique blend of liquidity, tapping into multiple streams that allow for individual pricing per client segment according to flow characteristics, as well as shared streams for scalability.

Dan MacGregor, Head of eFX Sales Americas at State Street, said: “As part of our continued commitment to our clients, we were attracted to oneZero’s streams-based approach to liquidity. This gave us confidence that oneZero would enable us to offer the drilled-down, customized liquidity that is central to positive trading outcomes in today’s market. We look forward to working with oneZero and further deliver value to our clients.”

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