SMBC builds next generation algo platform with Kx

Kx, a division of First Derivatives plc, has been selected by Sumitomo Mitsui Banking Corporation to build and manage its next generation e-FX platform

SMBC builds next generation algo platform with Kx
Patrick Brazel

Kx, a division of First Derivatives plc, has been selected by Sumitomo Mitsui Banking Corporation 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 benefiting from 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 e-FX trading platform.

Kx
Execution analysis is a key component of the FX analytics offered on the Kx platform

These combine sophisticated order management and pricing techniques 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 core of Kx technology is the 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. Patrick Brazel, Chief Commercial Officer of Kx commented: “We are very pleased to partner with Sumitomo Mitsui Banking Corporation on this strategic initiative. Our e-FX solutions deliver rich functionality informed by many years of FX domain expertise and powered by the world-leading performance of Kx technology. This combination is delivering important benefits for our clients and establishing Kx as a key technology provider to the e-FX market.”