Integral launches OCX RiskNet customer-to-customer FX Matching Engine

FX trading technologies provider Integral Development Corp has announced the formal launch of its OCX RiskNet product. OCX RiskNet is a mid-point matching engine by which Integral’s customers such as Retail Forex brokers, banks and investment managers can offset their risk safely and anonymously with other customers.

integralOCX RiskNet is a part of Integral’s OCX Open Currency Exchange, an execution venue that delivers a comprehensive suite of risk transfer models including OCX Streams, liquidity from market makers and OCX Match, a central limit order book.

OCX RiskNet has been in use with select Integral customers for several months and is now being made available to the broad FX community for all major currency pairs. It is seamlessly integrated with FX Cloud, Integral’s trading platform.

OCX RiskNet is available to a broad and diverse customer base including banks, retail brokers and investment managers. It provides for:

  • safe and anonymous customer-to-customer matching
  • easily offset risk positions with natural, opposite interest at the Integral FX Benchmark midrate
  • seamlessly integrated to Integral’s FX Yield Manager and InvestorFX
Harpal Sandhu, Integral

Harpal Sandhu, Integral

According to Integral CEO Harpal Sandhu:

For the first time, a truly diverse set of market participants can offset risk with natural interest from their peers, at the lowest possible transaction cost, safely and without adverse market impact. OCX RiskNet helps make mid-point matching a feasible reality for market participants because it is integrated with their day-to-day execution and risk management workflows.

“Risk managers who run a B-book or warehouse risk face twin challenges: Fast moving FX prices and the costs of offsetting risk externally,” states Javier Paz, Senior Analyst at Aite Group. “OCX RiskNet breaks ground as a trusted platform, which helps expand the set of internalized liquidity that is available to banks and brokers who want to offset their FX positions quickly, anonymously, and  cost effectively.”

“As TCA continues to be a focus for market participants, the ability to match at mid-point with other natural interest brings a measurable benefit to our users,” Sandhu added.

Participants of OCX RiskNet match at the Integral FX Benchmark, a continuous mid-point benchmark, generated based on research collaboration between Integral and Stanford University.

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