SMBC selects Kx technology to build and manage its next generation e-FX platform

Maria Nikolova

Kx will provide Sumitomo Mitsui Banking Corporation and its clients with a solution that delivers superior electronic execution, broad distribution capabilities, algorithmic trading and effective risk management.

Kx, a division of First Derivatives plc (LON:FDP), has just announced that it has been selected by Sumitomo Mitsui Banking Corporation (SMBC) to build and manage its next generation e-FX platform.

Under a multi-year agreement, Kx will provide Sumitomo Mitsui Banking Corporation and its clients with a solution that delivers superior electronic execution, broad distribution capabilities, algorithmic trading and effective risk management supported by advanced real-time pre and post trade analytics.

Sumitomo Mitsui Banking Corporation is now live with Phase One and is already making use of tighter spreads, deeper liquidity and higher fill rates. The solution is built on three components – Kx for Flow, Algo Risk Management and FX Analytics – that are key elements of Kx’s leading e-FX trading platform. These offer sophisticated order management and pricing techniques along with customised trading algorithms and distribution of rich liquidity to multiple market channels, enabling Sumitomo Mitsui Banking Corporation to further increase its customer reach.

At the heart of Kx technology is the world class kdb+ database engine, which powers state-of-the-art transaction analytics and visualization, offering unique business and customer insights across the trade lifecycle.

The solution represents an integral part of Sumitomo Mitsui Banking Corporation’s FX ecosystem and enables the bank to rapidly deliver a comprehensive market-leading service to meet the needs of its dealers and customers alike.

Katsuhiko Yano, Joint General Manager, Global Markets Engineering at Sumitomo Mitsui Banking Corporation, comments:

“Kx was a natural choice for Sumitomo Mitsui Banking Corporation and is well placed to provide us with a flexible, scalable and high-performance technology that easily integrates with our existing systems and provides us with a foundation for our continued growth and expansion in e-FX trading. Kx’s ability to deliver a highly flexible platform supported by a local Japanese presence and global reach will enable us to take advantage of many new opportunities for Sumitomo Mitsui Banking Corporation and our clients.”

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