Evolution of FX Market Drives Innovation in Foreign Exchange Platform Model Design
State Street Corporation (NYSE: STT) announced today the launch of its next generation institutional trading platform, Currenex X2 (X2).
Currenex, a State Street business and leading FX technology provider, developed the platform based on detailed behavioral analysis of its existing buy-side and sell-side customers' trading workflows and usage patterns.
New enhancements to the platform include:
- Customized visuals to help traders process the full range of available liquidity more efficiently
- New order types to empower traders to simultaneously bridge multiple liquidity sources
- Customizable order profiles and screen layouts for traders to create their own bespoke execution environment
- Visual trade blotter providing a scorecard of trade performance including mark-out, spread paid and market timing
Currenex created X2 to ensure their track record of reliability and resilience during periods of extreme market volatility brought on by events like Brexit continues. X2 will continue to be enhanced as clients adopt the new platform.
"Understanding and responding to our clients' key priorities has been central to our approach to designing this new trading platform," said David Newns, global head of Currenex. "Since we launched Currenex in 1999, the pace of technology has intensified, trading styles have evolved and liquidity sources have become more complex and multi-dimensional. Today's traders need a platform to keep them as informed and efficient as possible, as well as delivering excellent execution functionality. These needs underpin many of the new features we have introduced to X2."
Currenex X2 is fully compatible with modern internet browsers and runs on both OS X and Windows.