Cürex Group, the buy side forex client-focused execution services and data analytics company, today announced it entered into an agreement with FX Connect, State Street’s multi-counter party trading system and a market leader in end-to-end FX execution services.
As a result of this new agreement, Cürex has become an execution destination accessible via FX Connect, allowing subscribers to both services access to Cürex’s centrally cleared liquidity pool supporting the anonymous execution of over 200 currency pairs. Cürex features live, 24 hour a day streaming liquidity from 13 of the largest global banks, all of which is executable and is not subject to a “last look” provision. In addition, all executions via Cürex are prints on the FTSE Cürex FX benchmark indices providing an audit trail for compliance purposes. This combination of features supports “best execution” standards for every buy side institution.
Jamie Singleton, Cürex Group Chairman and Chief Executive Officer commented, “Cürex’s sole mission is to provide FX solutions to the buy side. We are delighted that FX Connect has taken the affirmative step to make our solutions available to their customers. We have spent years building our unique execution services and data analytics into an integrated platform. Given the rapidly changing dynamics of the FX marketplace and increasing pressure by regulators for greater transparency, we believe that Cürex is well positioned to address the buy sides’ needs in partnership with FX Connect.”
Paul Alves, head of FX Connect commented, “FX Connect is dedicated to supporting clients’ needs, providing market leading tools to meet their execution requirements and manage their pre- and post-trade workflows. We believe that Cürex offers our clients a unique solution, and we are pleased to add this new capability to our suite of execution methods.”
To see the official release click here (PDF).