360T has integrated its Swaps User Network (SUN) with Lucera, a technology service provider. This strategic move aims to extend the platform's reach to current Lucera users. 360T SUN, which utilizes an indicative streaming mid-rate from 360T’s Swaps Data Feed (SDF), is designed for sell-side firms to facilitate grey-book risk exchange at mid-market rates.

Enhanced Order Posting and Credit Models

The platform enhances FX Swaps trading operations by allowing both GUI and API users to post resting bid and offer orders. Additionally, it offers various automated credit models to minimize the risk and latency associated with soft matching.

“The middleware connectivity between banks and 360T SUN through Lucera’s API further enhances the value which the platform delivers to our global client base,” said Robin Nicholas, Head of Swap Product at 360T. “This connection focuses on the electronic placement and management of orders in 360T SUN, paving the path to full automation, from pricing generation through to trade execution .”

Meanwhile, 360T has introduced crypto non-deliverable forwards (NDFs) and recently facilitated the first trade between Wintermute Asia and Crypto Finance, as reported by Finance Magnates. Initially focusing on Bitcoin and Ethereum, the company plans to expand to include more assets.

These NDFs leverage existing OTC foreign exchange processes, aiming to streamline adoption among 360T's global clientele. They offer clients exposure to cryptocurrencies without direct asset handling and provide a regulated platform for hedging existing crypto exposures.

API Streamlines Banking Workflows

The integration with Lucera is a significant development in the platform's growing adoption by major sell-side firms. Lucera’s API provides banks with new workflow opportunities, enabling them to consolidate their trading volume distribution through a single connection rather than multiple connections, thus simplifying the process.

“We are very excited to have integrated with 360T SUN, a genuinely one-of-a-kind FX Swaps network. Enabling any of our clients to automate their swaps workflow through direct order placement on SUN, this new integration adds unique functionality and value to the extensive Lucera ecosystem,” added Peter Durkan, CEO at Lucera.