360T Group's new UK-based Multilateral Trading Facility (MTF) has received a regulatory interim exemption from the Ontario Securities Commission (OSC). This exemption ensures that Canadian FX market participants can seamlessly engage in trading activities on the platform, scheduled to launch on January 2.

360T's Operations in Canada: OSC Exemptions since 2016

The 360T Swaps Execution Facility has been operating in Canada under an exemption order granted by the OSC since June 2016. Additionally, 360T's European MTF has been serving the Canadian market under an exemption order since June 2019. The recent OSC interim exemption solidifies the platform's position, enabling Canadian participants to trade a variety of instruments, including FX Forwards, Swaps, Options, Non-Deliverable Forwards, and Non-Deliverable Swaps via the 360T UK MTF.

360T stands as one of the globally trading platforms for Foreign Exchange (FX), serving as Deutsche Börse Group’s powerhouse for FX. Since its inception in 2000, 360T has consistently provided a web-based trading technology for over-the-counter instruments, integration solutions, and related services. The company has developed and maintained a state-of-the-art multi-bank portal for FX, cash, and money market products, as well as FX/interest rate derivatives.

With a client base comprising over 2,400 buy-side customers and a network of more than 200 liquidity providers across 75 different countries, 360T is positioned to connect the global FX industry.

360T's SUN Emerges as Sole Mid-Price Streaming Hub

Earlier, Finance Magnates reported that 360T introduced mid-liquidity streaming through APIs on its Swap User Network (SUN), with Deutsche Bank and ING executing the inaugural trade. This move is a significant development in the FX Swaps market, with 360T SUN being the exclusive platform offering continuous mid-price streaming for FX Swap instruments.

The innovation addresses the growing client demand for FX Swaps access. Shuo Wu, the Global Head of Forward e-trading at Deutsche Bank, highlighted the advancement as a pivotal phase in FX swaps trading, enabling risk offset at the mid-market level. 360T anticipates this milestone to revolutionize FX Swaps trading, facilitating auto-hedging, aggregation, and algorithmic execution, empowering banks to enhance their capabilities and foster growth in the market.