Christopher Dudley Joins Siege FX

Institutional peer-to-peer netting service Siege FX has hired Global Business Manager and Derivatives Trader Christopher Dudley as a Product Manager in London this month, according to market sources.

He moved to the firm from Bloomberg, where he spent more than seven years in various roles.

Dudley had joined the company as an FX Derivatives Application Specialist in 2012, before taking up a new position at Bloomberg’s global FX core business.

His responsibilities included the management of BFIX FX benchmark.

Prior to this, he worked in currency options at Westpac for nine years.

Earlier in his career, Dudley was a Vice President Currency Options at Republic National Bank and served in a similar role at the Bank of Montreal later.

Peer-to-peer FX netting

Siege FX is an information technology and services firm founded in 2017, offering pre-trade peer-to-peer FX netting to Institutional clients.

Technology provider Siege FX said in an interview in early 2019 that they will roll out peer-to-peer netting, as the FX space is ready for such as service.

While there had been calls from Buy-Side Buy-Side The buy-side is comprised of firms in the financial industry that purchase securities and are accompanied by account investment managers, pension funds, and hedge funds.The buy-side is composed of those that buy and invest large sums of securities with the intention of generating a lucrative return or have their funds managed. The Buy-Side ExplainedIn terms of Wall Street, the buy-side includes investment institutions that purchase securities, stocks, or other financial instruments with the aim The buy-side is comprised of firms in the financial industry that purchase securities and are accompanied by account investment managers, pension funds, and hedge funds.The buy-side is composed of those that buy and invest large sums of securities with the intention of generating a lucrative return or have their funds managed. The Buy-Side ExplainedIn terms of Wall Street, the buy-side includes investment institutions that purchase securities, stocks, or other financial instruments with the aim Read this Term market participants for a fair and transparent netting service for several years, no such tool had emerged for financial institutions active in the FX industry until then.

Netting even 20% of orders can reduce Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term costs by more than 50%, according to the firm.