Orca SMT FX trade execution interface enters beta phase

Source: Orca SMT

Orca SMT, the new FX pricing, execution and management interface designed for use by foreign exchange salespeople, today announced its beta launch.

Orca SMT provides salespeople at institutional FX dealing desks with client-specific historical trade information, core liquidity and margin potential within a single application. This enables them to provide quotes with better information at the point of trade, resulting in more optimized and accurate prices for their FX clients.

Before Orca SMT, salespeople at institutional FX desks predominately used single dealer platforms or multi-bank aggregators to hedge exposure with their clients, providing client quotes from the prices made available on these systems, adding a small spread on each trade as a fee. However, this procedure is inefficient and prone to pricing errors. Orca SMT automates the process, via a FiX connection to liquidity sources, and provides more consistent pricing for clients. Using Orca SMT, salespeople know exactly the margin capture they are adding as they quote their clients, in either currency or percentage terms, in any currency pair.

Additionally, FX management will gain real-time visibility into a salesperson’s price quoting activity and performance. With Orca SMT’s Manager Dashboard, managers can review the service levels of an individual, a team, or the entire global sales force in an easy to use and intuitive interface.

“I am happy to announce that Orca SMT has completed its initial testing and is currently in a beta phase with several banks”, said Daniel Osborne, CEO of Orca SMT. “By providing salespeople with real-time client intelligence, Orca SMT enables them to price more accurately and ultimately win more deals. Combining this functionality with management visibility and connectivity to deal capture and risk management systems, we foresee significant service level improvements in voice traded FX.”
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