Sucden Financial, a UK-based institutional FX and derivatives broker, has selected FairXchange to provide clients with an independent analysis of execution performance.
The deal enables Sucden Financial to deliver seamless access to tools and techniques that help its clients manage and optimise their eFX businesses in an increasingly complex market environment. Also, the company will be using FairXchange to help its clients gain more transparency and provide them with insights for their FX trading activity.
By choosing FairXchange, Sucden can address the growing challenges in Europe presented by ongoing regulatory changes. It offers customers the ability to conduct analysis across a variety of metrics for each trade.
The firm’s analytical framework, Horizon, provides metrics that help clients analyze the different events associated with FX trading alongside the actual fills. Horizon takes a large data-set of any trading event that can be captured electronically and compares it to market data at the time.
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Commenting on the partnership, Wayne Roworth, co-head of eFX at Sucden Financial, said: “Partnering with FairXchange has enabled us to further enhance our client offering, as we remain at the forefront of innovation in our space. The need for transparent, independent data on performance has never been greater; it informs discussions with our clients and valued liquidity partners, as well as giving us unparalleled insight into our own business.”
Solid financials with record revenues
The collaboration with FairXchange is a continuation of Sucden’s expansion plans, which recently included a strengthening of its institutional services as part of a significant investment plan. This saw Sucden launch an over-the-counter (OTC) FX options product last year.
Established in 1973, Sucden Financial is a derivatives broker operating in a broad range of markets, including exchange and OTC traded financial and commodity futures and options, equities and foreign exchange. Sucden Financial is part of Sucres & Denrées, which has a presence in over 30 locations worldwide.
Sucden Financial’s ambitions in the institutional space have been reinforced by its recently reported annual earnings for 2017. The group managed to see record revenues and profits for the company throughout last year, including an increase in net profit of 30 percent when compared to the previous year.