Cloud-based FX trading platform for institutional investors BidFX announced that State Street, financial services provider to institutional investors, has made its four FX algorithmic strategies available on the BidFX platform.
BidFX clients can now access State Street’s FX Algo Suite directly on the BidFX platform. Each of the four strategies offers a wide range of flexibility on executions suited to client requirements and trading preferences.
Mary Leung, Global Head of Client Algos at State Street said:
Heightened market volatility caused an unprecedented increase in FX algo volumes back in March, proving that algos are a valuable tool for clients to reduce the cost and increase the efficiency of their execution. With State Street’s unique franchise liquidity, our versatile suite of algorithms are designed to adapt to our clients’ execution style and philosophy, bringing unparalleled value to their performance. As part of our continued commitment to our clients, we’re delighted to expand our algo offering onto BidFX.
Scott Gold, BidFX Head of Americas Sales commented:
Scott Gold
Source: LinkedIn
BidFX has had a long-standing relationship with State Street and it’s exciting to see State Street extending their integration with BidFX through the addition of their four FX algorithmic strategies. Given the premium put on liquidity due to the current circumstances in global markets, our clients have been utilizing more algorithmic strategies to execute efficiently. With that in mind, having the addition of State Street’s algos will deliver further value to the BidFX client base. We therefore welcome State Street as the latest algo provider on BidFX.
In June this year, Singapore Exchange announced its plans to acquire the remaining 80% stake in BidFX following a major upgrade to its mobile app.
