Streaming Electronic Option Prices On FXall
FX Alliance Inc. ("FXall"), a Thomson Reuters company and the leading independent global provider of electronic foreign exchange trading solutions, announced today that Goldman Sachs, J.P. Morgan and Morgan Stanley have now connected to FXall’s Trading platform to provide options pricing for clients to deal electronically with each bank. Goldman Sachs, J. P. Morgan and Morgan Stanley join BofA Merrill Lynch and Credit Suisse, bringing the platform’s total to five bank options liquidity providers that are auto-pricing options. As option pricing capabilities are now available through the current release of Treasury Center, FXall’s dealer intervention tool, FXall’s entire community of over 80 banks can participate in the option market’s evolution to on-line trading.
Kayhan Mirza, Global Head of FX Options at J.P. Morgan noted, "The FXall Multibank Options trading platform will open up a new channel for us to serve our clients. As the market evolves towards a more electronic means of execution, FXall is a strategic partner in helping to broaden the distribution of our electronic products. We are pleased to offer liquidity through this new trading venue, and welcome the greater choice and improved access to liquidity that this will bring."
"Morgan Stanley has enjoyed a longstanding relationship with FXall and our common clients have come to expect best in class pricing, execution and service. Our partnership extends further as Morgan Stanley’s established electronic FX Options product, powered by Matrix, becomes available through FXall. We look forward to servicing our current clients and welcoming new relationships," added David Wright, European Head of FX Electronic Distribution at Morgan Stanley.
Phil Weisberg, CEO at FXall commented, "Following our recent announcement about the launch of FX options trading on FXall, we are extremely pleased by the addition of Goldman Sachs, J.P. Morgan and Morgan Stanley to BofA Merrill Lynch and Credit Suisse. These five banks are at the forefront of electronic options trading and their ability to integrate quickly with our system highlights the quality of their offerings and their dedication to providing options liquidity to clients."
FXall provides a full end-to-end options workflow solution including post-trade functionality for settlement, premium netting and payments. FXall supports the trading of European option strategies including Calls, Puts, Straddles, Strangles, Spreads, Collars, Butterflies and Strips. Users can also create custom multi-leg strategies and zero cost strategies. The platform’s option calculator facilitates price discovery by solving for strikes, premiums and notional amounts prior to execution.
FXall, now a Thomson Reuters Company, is the leading independent global provider of electronic foreign exchange trading solutions, with over 1,300 institutional clients worldwide. FXall's offices in New York, Boston, Washington, London, Zurich, Hong Kong, Tokyo, Singapore, Sydney and Mumbai serve the needs of active traders, asset managers, corporate treasurers, banks, broker-dealers and prime brokers.
For more information on FXall, visit www.fxall.com
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