Siege

Siege is a peer-to-peer spot FX platform, established with the goal of creating a trusted environment where buy-side members have the ability to net offsetting orders before going to lit markets, reducing information leakage and minimising market impact. Siege’s in-house technology identifies netting opportunities in a continuous real-time process and provides the oversight and surveillance functions agreed upon with the Siege buy-side community. Trades are netted at the FCA-regulated New Change FX benchmark mid-rate and materialised on the 360TGTX platform in partnership with 360T of Deutsche Börse Group.

Siege has offices in London and Boston. Contact details are available on www.siegefx.com and as follows: New commercial inquiries to info@siegefx.com Existing client and partner inquiries to support@siegefx.com

Siege does not publish pre-trade orderbook or post-trade market data. Clients benefit from post-trade transparency as execution reports detail child order fills against the NCFX benchmark mid-rate with an array of timestamps. We support feeds to third party TCA providers as demanded by clients and offer participants guidance ex-post on maximising netting potential.

Siege operates a trusted anonymous environment for a community of qualifying direct client and algo client participants. All participants are subject to the Siege Rulebook and control framework, which is designed to preclude information seeking behaviour. Transactions are netted at FCA-regulated NCFX benchmark mid-rates and are subject to market surveillance, which includes mark-out calculations against the benchmark.

Siege can be accessed directly via FIX, the Siege UI, EMS or FX platform as well as via client execution algos from a range of providers. Certified partner algos include Siege in multi-venue, venue-exclusive and bespoke strategies, which take advantage of Siege’s no impact construct to load balance order residuals without information leakage.

The Siege liquidity pool is built to fit in with your existing workflows, relationship banks and FX platforms. Siege is also available for SaaS deployment within a client’s order management workflow as a compliant internal netting solution across share classes, subaccounts,strategies and/or business units.