February 25, 2021
FXall delivers advanced FX trade execution capabilities to buy-side traders
With the release of Order Splitting, Refinitiv’s FXall platform further empowers buy-side traders to minimize the market impact of their FX trades.
New York - Refinitiv, an LSEG company, has launched Order Splitting on its FXall trading platform, a workflow solution that provides greater flexibility and control over the staging and execution of FX trades. Order Splitting enables traders to split one order into multiple smaller orders that can be traded using different execution methods and across multiple liquidity providers.
As buy-side participants in the FX market grow more sophisticated, they seek smarter workflow solutions that allow them to net and manage their orders before executing them in more cost-effective ways. With the greater flexibility granted by Order Splitting, traders can split an order into multiple smaller orders that can be traded using the execution methods most likely to minimize market impact and reduce spread costs - whether traditional request-for-quote or more advanced algorithmic strategies.
With Order Splitting traders also have more flexibility to adapt their FX execution to changing market conditions. For example, if warranted by price deterioration, they can cancel the execution of an algo order that is already in-flight and immediately execute the remaining unfilled balance via RFQ, securing the best price from a panel of liquidity providers.
“The flexibility of a trader’s order staging and execution workflow is critical to execution quality,” said Jill Sigelbaum, head of Refinitiv FXall. “The management of market impact and information leakage during the trading process continue to be top-of-mind for the industry, and with Order Splitting we are giving buy-side traders additional tools to achieve their objectives. This is another milestone in our delivery of solutions that empower traders to make smarter trading decisions and minimize execution costs”.
For further information on Refinitiv’s FX solutions, visit here.
As the leading multi-dealer FX trading platform, FXall offers clients access to deep liquidity with choice in execution, end-to-end workflow, and straight-through processing covering the entire trade lifecycle. FXall has a client base of over 2,300 clients and 230 bank and non-bank liquidity providers.
Refinitiv, an LSEG (London Stock Exchange Group) business, is one of the world’s largest providers of financial markets data and infrastructure. With $6.25 billion in revenue, more than 40,000 customers and 400,000 end users across 190 countries, Refinitiv is powering participants across the global financial marketplace. We provide information, insights, and technology that enable customers to execute critical investing, trading and risk decisions with confidence. By combining a unique open platform with best-in-class data and expertise, we connect people with choice and opportunity – driving performance, innovation and growth for our customers and partners.
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