SGX FX, through its eFX and digital assets trading solutions provider for global sell-side institutions MaxxTrader, has released the latest version of its artificial intelligence (AI) tool, which gives financial institutions access to faster and more informed foreign exchange (FX) trading decisions.

The tool curates FX and digital assets price, as well as trade data, before automatically generating tailored, actionable insights to a stakeholder – enabling quicker, easier decision-making to ensure competitive advantage. It analyses multitudes of FX data like trades, price streams, user activities, execution quality, market impact, profitability, and extracts valuable actionable insights that are presented in easily digestible stories and charts.

“Gone are the days of spending copious amounts of time sifting through reports, FX traders can now gather tangible insights such as changes in average hold times of the top 10 liquidity providers in a matter of seconds,” according to Vinay Trivedi, Chief Operating Officer at MaxxTrader.

“With its enhanced capabilities in analysing client data insights alongside a bank’s internal data, the tool creates stronger client engagement and redefining efficiency standards across FX. Whether identifying that a client is trading less, or detecting rejected quotes on specific pairs, the tool liberates traders to seek answers to key questions. For instance, a desk head can find out instantly if a key client is trading 50% less on GBP/USD – making them more inclined to contact the client quickly to find out why,” Trivedi added.

Available since the start of Q1 this year, the solution is the latest technology innovation from SGX FX that enables banks and broker-dealers to more effectively manage risk and achieve the trading performance they need to be competitive in today’s global FX marketplace.

Source: SGX