Sucden Financial launch cost effective OTC FX options service with increased price transparency
“Having identified client requirements regarding liquidity, cost and the availability of independent pricing data, we realised that we could build a transparent service that offers our clients wider access to a range of products, with innovative features at lower technology costs” – Pritesh Ruparel, Head of FX Options Origination & Structuring, Sucden Financial
Sucden Financial, a leading institutional FX and derivatives broker, has launched a new OTC FX options service. The new offering provides users with the ability to price their own option structures online and benchmark those prices against independent data for greater transparency.
“Having identified client requirements regarding liquidity, cost and the availability of independent pricing data, we realised that we could build a transparent service that offers our clients wider access to a range of products, with innovative features at lower technology costs.” said Pritesh Ruparel, Sucden Financial’s Head of FX Options Origination & Structuring.
He continued; “We now offer over 120 OTC FX option types, unlimited live streaming quotes for deliverable and non-deliverable FX pairs, as well as more advanced technology including time saving multi-period hedging functionality, pre-trade analysis, risk controls and independent data feeds. We believe we have a sophisticated first-to-market offering that appeals to our target clients.”
Clients, including asset managers, hedge funds, corporations and FX brokers looking to manage their FX exposure with more flexibility and customisation, have the choice of trading via an online trading platform or traditional voice methods. The new service ultimately means OTC FX options provided through Sucden Financial are now viable hedging tools for a broader range of users than ever before.
“Our new FX options offering is part of a significant investment plan to expand our firm’s institutional FX services and provide improved distribution of products to key clients.” commented Marc Bailey, Managing Director, Sucden Financial Limited. He continued; “We are in a strong position, especially given our market knowledge to find accurate and highly competitive option pricing, to be the non-bank FX service of first choice.”
Sucden Financial has been providing FX services for over 30 years, with established prime brokerage relationships and liquidity from a variety of sources, including tier 1 banks.