SGX FX launches AI tool to speed up FX trading decisions

Rick Steves

“Gone are the days of spending copious amounts of time sifting through reports, FX traders can now gather tangible insights such as changes in average hold times of the top 10 liquidity providers in a matter of seconds.”

SGX FX has released the latest version of its artificial intelligence (AI) tool powered by MaxxTrader, an eFX and digital assets trading solutions provider for global sell-side institutions.

The AI tool, available since the start of Q1 this year, enables banks and broker-dealers to more effectively manage risk and achieve trading performance through faster and more informed foreign exchange (FX) trading decisions.

“The tool liberates traders to seek answers to key questions”

The tool curates FX and digital assets prices, as well as trade data, before automatically generating tailored, actionable insights to a stakeholder – enabling quicker, easier decision-making to ensure competitive advantage.

It analyzes multitudes of FX data like trades, price streams, user activities, execution quality, market impact, profitability, and extracts valuable actionable insights that are presented in easily digestible stories and charts.

Vinay Trivedi, Chief Operating Officer at MaxxTrader, said: “Gone are the days of spending copious amounts of time sifting through reports, FX traders can now gather tangible insights such as changes in average hold times of the top 10 liquidity providers in a matter of seconds.

“With its enhanced capabilities in analyzing client data insights alongside a bank’s internal data, the tool creates stronger client engagement and redefines efficiency standards across FX. Whether identifying that a client is trading less, or detecting rejected quotes on specific pairs, the tool liberates traders to seek answers to key questions. For instance, a desk head can find out instantly if a key client is trading 50% less on GBP/USD – making them more inclined to contact the client quickly to find out why.”

SGX acquired MaxxTrader for $175 million

SGX FX offers a gateway to the global FX ecosystem, anchored by the world’s most liquid Asian FX futures exchange together with cutting‐edge FX technology and workflow solutions from BidFX and MaxxTrader. SGX CurrencyNode, an FX electronic communication network, connects global participants anonymously to unique and deep OTC FX liquidity pools.

The AI tool is powered by MaxxTrader, which was acquired by SGX in 2021 for a cash consideration of around $125 million. MaxxTrader is a direct-to-market FX trading platform that SGX is leveraging to build a complete FX ecosystem that has global access to OTC and a large derivatives marketplace.

SGX acquired BidFX in 2020 and while that company focuses on the buy-side liquidity, it would complement the sell-side liquidity that MaxxTrader provides for its institutional clients.

Read this next

Industry News

T+1 settlement goes live today in Canada, Mexico, Argentina

“Shortening the time between the trade date and settlement date reduces risk in the system, and the industry has worked hard to prepare for this important change.”

Industry News

DanFX’s Daniel Farook Ali sentenced to 7 years after extradition

The Court sentenced Mr Ali to seven years and three months imprisonment, with eligibility for parole from 5 July 2024.

Market News

Global Currency Market Dynamics Influenced by US Bond Market Volatility

The recent turbulence in the US bond market has benefited the USD.


Top 5 ICOs that are Likely to Explode in the Current Bull Run 2024

Explore top upcoming ICOs: BlockDAG, GBTC, TUK, SCOTTY, and SPONGE. Learn about their potential high returns and unique features.


BlockDAG’s Revolutionary Dev Release 36: Off-Chain PoW and a $30 Projection by 2030

Explore BlockDAG’s latest off-chain PoW innovation and its $32M presale success. Projected to reach $30 by 2030.


30,000x ROI Potential: BlockDAG Secures $33.5M in Presale, Outruns Retik Finance’s Bitmart Performance

Uncover how BlockDAG’s impressive $33.5M presale and its innovative platform draw investors away from Retik Finance following the Bitmart listing.


IT Professional Switches to Lucrative Crypto Mining Entrepreneur with BlockDAG’s Advanced Mining Technology

Learn how an IT pro turned Litecoin mining into a fortune. See if BlockDAG can match this with advanced mining tech and 30,000X ROI potential.


May 2024 Crypto Spotlight: Why Whales Are Choosing BlockDAG Over Retik Finance, Will CoinW & P2B Listing Save $RETIK?

Uncover why BlockDAG is winning over smart investors in May 2024, and surpassing Retik Finance’s performance on exchanges like CoinW and P2B.


Ethereum Leads Altcoins Toward a Huge Rally: Expert Top Picks for Altseson Unveiled

A fresh surge in alternative cryptocurrencies is building momentum as Ethereum leads the charge.