Kx, a division of First Derivatives, has announced that it has been selected by Sumitomo Mitsui Banking Corporation (SMBC) to build and manage its next generation e-FX platform. Under a multi-year agreement, Kx will provide SMBC and its clients with a solution that is designed to deliver electronic execution, distribution capabilities, algorithmic trading and risk management supported by real-time pre- and post-trade analytics.
SMBC is now live with Phase One and is already benefiting from tighter spreads, deeper liquidity and higher fill rates. The solution is built on three components - Kx for Flow, Algo Risk Management and FX Analytics - that are key elements of Kx’s e-FX trading platform. These combine sophisticated order management and pricing techniques with customised trading algorithms and distribution of rich liquidity to multiple market channels, enabling SMBC to further increase its customer reach.
At the core of Kx technology is the kdb+ database engine, which powers transaction analytics and visualisation, offering unique business and customer insights across the trade lifecycle, while ensuring unrivalled speed and performance across the platform.
The solution represents an integral part of SMBC’s FX ecosystem and enables the bank to deliver a service to meet the needs of its dealers and customers alike.
“Kx was a natural choice for Sumitomo Mitsui Banking Corporation and is well placed to provide us with a flexible, scalable and high-performance technology that easily integrates with our existing systems and provides us with a foundation for our continued growth and expansion in e-FX trading,” said Katsuhiko Yano, joint general manager, Global Markets Engineering at SMBC. “Kx’s ability to deliver a highly flexible platform supported by a local Japanese presence and global reach will enable us to take advantage of many new opportunities for Sumitomo Mitsui Banking Corporation and our clients.”
“Our e-FX solutions deliver rich functionality informed by many years of FX domain expertise and powered by the world-leading performance of Kx technology,” said Patrick Brazel, chief commercial officer of Kx. “This combination is delivering important benefits for our clients and establishing Kx as a key technology provider to the e-FX market.”
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