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Digital Vega and FactSet collaborate to offer FX options trading to asset managers

Source: Digital Vega

Digital Vega, the leading FX Options e-trading platform and provider of FX Options trading solutions, today announced that its service has been integrated with FactSet’s FX execution management system, Portware.

This collaboration adds to Digital Vega’s distribution and client base, while enabling FactSet to extend its product coverage to include FX Options, in addition to Fixed Income, Equities, Futures, and FX.

Driven by regulation and efficiency, FX Options workflows are becoming increasingly automated, which is driving volume growth in electronic trading. As Asset Managers aim to maximise workflow efficiencies, they are looking to utilise electronic trading for FX Options in addition to other asset classes.

FactSet’s Portware platform provides Asset Managers with a single method of execution across all assets, combining deep liquidity with high levels of automation. Integrating with Digital Vega enables its clients to automate complex FX Options workflows and access pricing in an extensive list of currencies, from the largest group of Liquidity Providers.

“Growing regulatory pressure and increasing competition is driving demand for more automated and efficient solutions,“ said Mark Suter, Executive Chairman and Co-Founder, Digital Vega. “By partnering with FactSet we are able to extend our coverage to large Asset Managers, which will deepen liquidity for the benefit of all our clients. We are fortunate to be recognised as a leader in our field, and as a specialist provider of FX Options technology we have successfully automated some of the most complex trading workflows. We look forward to continuing our collaboration with FactSet.”

John Marchese, Head of FX Sales at FactSet commented, “As the FX Options market has become increasingly electronic, we wanted to work with a best-in-class e-FX Options provider in that market. Adding FX Options to Portware was a logical decision, which will provide our clients with high levels of workflow automation by our EMS, combined with a deep pool of liquidity from Digital Vega.”

Toby Baker, Head of FX Trading at T. Rowe Price commented, “For some time, we have been using Portware for our day-to-day cash trading requirements and have also been aware of Digital Vega’s capabilities. Adding Digital Vega’s FX Options liquidity and workflow management into Portware’s EMS to provide a single, fully integrated solution will bring huge benefits to the team.”

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