SiegeFX’s anonymous Spot FX matching solutions used by 10 of the largest 20 banks

SiegeFX has announced continuous growth in 2022 that is set to continue in 2023 with the onboarding of several leading FX banks, asset managers, and other buy-side firms.

MidPool, the firm’s first service launched in 2021 – a fully anonymous and continuous Spot matching service at a regulated mid-rate – ended the year with more than 60 buy-side and bank participants building and benefiting from zero impact liquidity, SiegeFX stated.

SiegeFX said it will soon be connected with 10 of the largest 20 Banks and 15 of the top 20 Asset Managers.

SiegeFX plans to launch order compression and block order trading solution

In Q3 2022, the FX specialist launched NetFix, an anonymous mechanism designed to match offsetting fixing orders in advance of the publication of an FX benchmark.

NetFix provides fully automated session matching, Banks, Asset Managers, Pension Funds and Corporates benefit from earlier access to liquidity without tracking error, no information leakage, and reduced trading congestion in the Fix calculation windows.

Later this year, SiegeFX plans to launch Netbook, which delivers asset managers and banks an innovative approach to order compression and block order trading across all cash FX instruments.

Claude Goulet, CEO of Siege, said: “2022 proved to be a busy and successful year for Siege as we added new buy-side and bank participants to our network and launched NetFix. Looking forward there are many more clients in the process of onboarding and we have identified with them several workflows which will benefit from the Siege platform. These new services are developed in collaboration with our participants across both banks and buy-side firms; NetBook, which we plan to launch later this year, is a perfect example.

“We would like to thank our clients and partner firms for their support in 2022 and look forward to another successful year of growth.”