360T Launches Streaming NDFs
360T, Deutsche Börse’s FX unit and global provider of a multi-bank, multi-asset trading platform, announced the completion of its first trade in Streaming Non-Deliverable Forwards (NDFs).
360TGTX Streaming NDFs has been designed to complement 360T’s disclosed ‘Request for Stream’ offering and is a response to market demand for an alternative hedging venue. The new venture supports both disclosed and anonymous trading and is initially available to those firms executing off-SEF, with an on-SEF version anticipated in Q1 next year.
Expanding on its full range of streamlined services across the entire trading workflow of FX and short-term money market products, 360T now gives its clients more access to NDF liquidity. The launch of Streaming NDFs comes at a time when the major Liquidity Providers are expanding their Algo offerings to include NDFs, 360TGTX now offering a unique alternative hedging venue.
“It is clear from the latest surveys and client feedback that the NDF market has evolved significantly over the last few years. Streaming NDFs in the ECN space is a logical evolution and we believe there is space for a faster, more flexible offering. Couple the GTX technology with the 360T franchise and we have a truly differentiated client and inter-dealer offering”, said Simon Jones, Chief Growth Officer at 360T.
The 10-year licensing agreement allows for the launch of 37 futures and options contracts in Hong Kong.
Trading volumes increased outside the US.
The ISDA-Clarus RFR Adoption Indicator shows monthly RFR trading activity in interest rate derivatives.
The ISDA e-contract opinions will be updated to cover securities financing transactions.
Applicants from Asia, Middle East, Africa and South America are particularly welcome.