FastMatch recently achieved a record high in trading volumes earlier this month, which subsequently saw activity decline rapidly as a result of the platform’s connection to FXCM – a broker whose meteoric rise in the aftermath of certain collapse has been well-documented.
FastMatch has already enlisted Credit Suisse as its first sponsoring clearing bank, ensuring client-wide access to its network that is compatible with Credit Suisse’s AES suite of products.
In particular, FastMatch’s AgencyFX caters to buy-side clients, whose suite of liquidity and trading tools target a vast array of execution services. These include, according to a FastMatch statement:
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Peer-to-Peer Trading: AgencyFX’s peer and retail continuous mid-point matching engine, provides a platform for institutions to trade safely and reliably with each other, eliminating the need for a market maker to price their trades.
Algorithmic Trading: The unique peer and retail liquidity is augmented by algorithmic trading strategies designed exclusively for AgencyFX by Pragma Trading, an independent quantitative trading technology provider of specialized multi-asset algorithmic services.
Anonymous Aggregated Liquidity: Anonymously access FastMatch’s deep and tight liquidity to save transaction costs.
SafeMatchTM Auction: SafeMatch auctions are open to the buy and sell-side, providing a transparent, dealable point in time crossing auction, with the option for auction imbalances to be executed at a predefined public commission. SafeMatch will launch by the end of Q1 2015.
According to Paul Buckley, Head of AgencyFX Product at FastMatch, in a recent statement on the launch, “We are excited to create a new, broker neutral product for the buy-side clients. The AgencyFX product will aim to significantly improve execution quality and transparency for the buy-side community in the FX market.”