ANZ Bank has joined BidFX as their newest algo liquidity provider. BidFX CRO, John McGrath, commented, “ANZ has a unique position in the eFX market in terms of its liquidity franchise and we have seen strong demand from our sophisticated institutional clients for ANZ Algo’s on BidFX. We are thrilled to have them go live on the BidFX platform and offer clients unique liquidity from their franchise”.
By choosing ANZ for FX Algorithmic execution clients can enjoy:
Liquidity: Tap into the FX Market with ANZ’s superior access to unique liquidity pools.
Internalisation: Access ANZ’s exceptional Australian dollar, New Zealand dollar and Asian franchise, leveraging the Bank’s strong credit rating and risk appetite.
Risk Management: Hedge FX exposures while meeting reporting obligations with transaction cost analysis (TCA).
Flexibility: Parameters that can be defined and controlled, including timing, price, and chosen strategy, all with prevailing market conditions.
Commenting on this development, ANZ Head of eFICC Luke Marriott said: “ANZ is pleased to collaborate with BidFX, bringing our FX Algorithmic execution offering to the BidFX Algo Hub. We see synergy in bringing our unique AUD, NZD and Asian franchise to our mutual clients throughout Asia and across the globe.”
BidFX, as an SGX Group company, is a cloud-based provider of eFX trading solutions for global buyside institutions. It delivers customised liquidity in all FX products from partner banks, non-banks and ECN’s providing broker-neutral and cutting-edge execution management services. The firm offers a complete suite of negotiation protocols and a hub to the algo suites of all major banks featuring best execution capabilities. Its Liquidity Provision Analytics (LPA) and advanced TCA solutions feature pre-trade predictive models, in-trade benchmarking and post-trade synopses.
The company was recently recognised as the Best Foreign Exchange Solution at the Hedgeweek European Emerging Manager Awards 2023.