“In response to client feedback and a growing market need, we saw an opportunity to accelerate the growth of our time-tested TradeSmart solution with the FX trader in mind,” said TS CEO, Pierre Schroeder. “FX traders worldwide now have access to a fully neutral FX EMS that can openly source liquidity and deliver on best execution requirements all from the same screen or API.”
Jean-Philippe Malé, CEO of BidFX said, “BidFX demonstrates a precision of service unparalleled in our industry. From the ease of implementation, custom algo development and flexibility to handle large orders by using different trading protocols – BidFX delivers regulatory and operational alpha throughout the entire trade workflow.”
Malé continued, “We are thrilled with the positive response the market has shown BidFX as evidenced by growth in platform adoption and volume which has doubled year to date including a record month in August. This is especially impressive considering certain segments of the market experienced a contraction over the same period.”
Additional features of BidFX include embedded data aggregation and analysis to meet today’s TCA needs. Across the entire trade workflow, clients can access Pre-Trade predictive models, In-Trade benchmarking and Post-Trade synopses.
Varghese Thomas, Chief Strategy Officer of TS, said, “BidFX will operate as a wholly owned subsidiary of TS powered by its global cloud platform including 7 data-centers which offer key regional co-location. Existing TradeSmart customers will seamlessly transition to the new cutting edge system being developed by BidFX and benefit from full integration between TS-EMS and BidFX.”