Sucden Financial is expanding its services with FX options, the company officially announced today. The firm is aiming to cater to the increasing need of institutional clients to hedge their foreign exchange markets exposure.
Sucden is filling an important niche in the FX market for retail brokers who can hedge their exposure to the markets more efficiently. The over-the-counter (OTC) FX options service provides clients of the company with the ability to price their own option structures. They can also then benchmark their products against independent data to get a better glimpse of the market.
Commenting on the launch, the Managing Director of Sucden Financial, Marc Bailey, said: “Our new FX options offering is part of a significant investment plan to expand our firm’s institutional FX services and provide improved distribution of products to key clients.”
“We are in a strong position, especially given our market knowledge to find accurate and highly competitive option pricing, to be the non-bank FX service of first choice,” Mr Bailey elaborated.
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Hedging Made Easier
OTC FX options can play a key role for brokers that are managing their own risk. The product should also be quite attractive to the key clients of Sucden – asset managers, corporations, hedge funds, investment houses, institutional and high-net worth traders.
The Head of FX Options Origination & Structuring at Sucden Financial, Pritesh Ruparel, said: “Having identified client requirements regarding liquidity, cost and the availability of independent pricing data, we realized that we could build a transparent service that offers our clients wider access to a range of products, with innovative features at lower technology costs.”
“We now offer over 120 OTC FX option types, unlimited live streaming quotes for deliverable and non-deliverable FX pairs, as well as more advanced technology including time saving multi-period hedging functionality, pre-trade analysis, risk controls and independent data feeds. We believe we have a sophisticated first-to-market offering that appeals to our target clients,” he elaborated.
Clients will be able to trade OTC FX options online and via traditional voice methods.