SuperDerivatives Launches a Trade Execution Platform for Exotic Options Including FX

The new platform called SDeX connects directly to SuperDerivatives’ front office platform SDX to price and execute options and it

superderivatives-logo-e1348672899219SuperDerivatives, a financial information and trade execution provider, announced today that its new multi-bank multi-asset trading platform, called SDeX is now live. Connected to SuperDerivatives’ front office platform SDX, it allows users to request tradable prices from all of their counterparties on any trade they can price in SDX.

The SuperDerivatives platform is supported by 26 market-making banks, including Morgan Stanley, Julius Baer and Macquarie. SDeX supports all asset classes and is used for metals, FX, oil products, freight, credit derivatives and equity derivatives. Interest rates derivatives and other assets are due to become active later this year according to the company.

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These types of transactions have traditionally been executed either over the phone or via chat systems, and while most exotic products have not mandated for trading on either SEFs or MTFs, there is apparently already a demand from market participants for the ability to trade these instruments in an electronic trading environment leading SuperDerivatives to take this platform live today.

Explaining how the process now works, SuperDerivatives says once users priced the potential trade from simple vanilla swap to complex multi-legged structures in SDX, they can get live quotes on SDeX, negotiate, trade and book all the trades into SDeX. It covers the entire workflow, including pre-trade analysis, trade execution and post-trade confirmation and reporting.

David Collins, Head of Strategy at SuperDerivatives commented on the announcement: “SDeX preserves the relationship between market makers and market takers and makes the whole trade execution process for complex derivatives much simpler and less risky. Users really like having a single screen allowing them to reach all of their banks with one click. It ensures compliance with MIFID II and is under application to become a SEF. The reception from the market has been fantastic. Banks – large and small – hedge funds, private wealth managers and corporations have been quick to embrace the technology and appreciate how it saves them time and reduces operational risk.”

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