OptAxe launches an FCA-authorized multilateral trading facility for FX options in London.
The market relies heavily on voice trading and manual processes. OpteAxe wants to change that.
OptAxe, a
financial technology startup, has launched a new multilateral trading facility
(MTF) for foreign exchange options trading after receiving authorization from
the UK's Financial Conduct Authority (FCA).
New FX Options Trading
Venue Launches in The UK
The
London-based company aims to address inefficiencies in the FX options market by
centralizing liquidity discovery and execution on a single platform. OptAxe's
MTF aggregates axe inventory from multiple issuers, providing traders with a
consolidated view of available liquidity in real time.
Chris Jackson, CEO and Co-Founder of OptAxe
“We
set out to bring much-needed innovation to the FX options market, improve
liquidity discovery and unlock previously untapped trading opportunities,”
said Chris Jackson, CEO and Co-Founder of OptAxe. “We automate manual,
bilateral processes and consolidate available axe inventory into a single
platform, effectively acting as a multi-issuer, not a multi-dealer platform,
RFQ-based venue.”
The FX
options market, estimated at approximately $300 billion in daily trading
volume, has traditionally relied heavily on voice trading and manual processes.
OptAxe's analysis suggests that only 25% of bank-to-client axes are
successfully distributed through conventional channels.
The new
platform aims to streamline these processes by automating axe distribution and
providing a centralized source of actionable inventory. It offers connectivity
options via web interface and APIs, including FIX and REST protocols.
“With
OptAxe, all market participants can easily access a centralized source of
actionable axe inventory with evidence-based pricing that meets the demands of
the trading community today and tomorrow,” added Yorke O'Leary, COO and Co-Founder of
OptAxe. “Securing FCA approval to operate a regulated MTF for FX options
trading is a significant milestone for OptAxe and represents a step-change in
how the industry operates.”
Yorke O'Leary, COO and Co-Founder of OptAxe
The launch
comes at a time when regulatory changes, such as Uncleared Margin Rules, have
increased the cost of running FX options businesses. OptAxe's regulated MTF
status may help market participants navigate these challenges while improving
efficiency in trading operations.
The company
spent two years in the FCA's Pathway Programme before receiving full
authorization as a trading venue. OptAxe states that its platform is now ready
for use, with all necessary technical development and integration work
completed.
Understanding FX Options
and Market Challenges
Foreign
exchange (FX) options are financial contracts that give the holder the right,
but not the obligation, to buy or sell a specific amount of currency at a
predetermined exchange rate on or before a set date. These instruments are
crucial for businesses and investors looking to manage currency risk or
speculate on exchange rate movements.
However, according
to OptAxe, a large portion of potential trades never materialize, leading to
missed opportunities for both banks and their clients.
Several
factors contribute to this inefficiency. The fragmented nature of the market
makes it challenging for participants to find the best prices and
counterparties. Additionally, reliance on manual processes can lead to
delays and errors in communication. The lack of a centralized platform for
distributing and accessing information about available trades further
exacerbates these issues.
These
inefficiencies not only limit market liquidity but also potentially increase
costs for end-users. They can also make it more difficult for companies to
effectively hedge their currency risks, which is a crucial function of the FX
options market
OptAxe, a
financial technology startup, has launched a new multilateral trading facility
(MTF) for foreign exchange options trading after receiving authorization from
the UK's Financial Conduct Authority (FCA).
New FX Options Trading
Venue Launches in The UK
The
London-based company aims to address inefficiencies in the FX options market by
centralizing liquidity discovery and execution on a single platform. OptAxe's
MTF aggregates axe inventory from multiple issuers, providing traders with a
consolidated view of available liquidity in real time.
Chris Jackson, CEO and Co-Founder of OptAxe
“We
set out to bring much-needed innovation to the FX options market, improve
liquidity discovery and unlock previously untapped trading opportunities,”
said Chris Jackson, CEO and Co-Founder of OptAxe. “We automate manual,
bilateral processes and consolidate available axe inventory into a single
platform, effectively acting as a multi-issuer, not a multi-dealer platform,
RFQ-based venue.”
The FX
options market, estimated at approximately $300 billion in daily trading
volume, has traditionally relied heavily on voice trading and manual processes.
OptAxe's analysis suggests that only 25% of bank-to-client axes are
successfully distributed through conventional channels.
The new
platform aims to streamline these processes by automating axe distribution and
providing a centralized source of actionable inventory. It offers connectivity
options via web interface and APIs, including FIX and REST protocols.
“With
OptAxe, all market participants can easily access a centralized source of
actionable axe inventory with evidence-based pricing that meets the demands of
the trading community today and tomorrow,” added Yorke O'Leary, COO and Co-Founder of
OptAxe. “Securing FCA approval to operate a regulated MTF for FX options
trading is a significant milestone for OptAxe and represents a step-change in
how the industry operates.”
Yorke O'Leary, COO and Co-Founder of OptAxe
The launch
comes at a time when regulatory changes, such as Uncleared Margin Rules, have
increased the cost of running FX options businesses. OptAxe's regulated MTF
status may help market participants navigate these challenges while improving
efficiency in trading operations.
The company
spent two years in the FCA's Pathway Programme before receiving full
authorization as a trading venue. OptAxe states that its platform is now ready
for use, with all necessary technical development and integration work
completed.
Understanding FX Options
and Market Challenges
Foreign
exchange (FX) options are financial contracts that give the holder the right,
but not the obligation, to buy or sell a specific amount of currency at a
predetermined exchange rate on or before a set date. These instruments are
crucial for businesses and investors looking to manage currency risk or
speculate on exchange rate movements.
However, according
to OptAxe, a large portion of potential trades never materialize, leading to
missed opportunities for both banks and their clients.
Several
factors contribute to this inefficiency. The fragmented nature of the market
makes it challenging for participants to find the best prices and
counterparties. Additionally, reliance on manual processes can lead to
delays and errors in communication. The lack of a centralized platform for
distributing and accessing information about available trades further
exacerbates these issues.
These
inefficiencies not only limit market liquidity but also potentially increase
costs for end-users. They can also make it more difficult for companies to
effectively hedge their currency risks, which is a crucial function of the FX
options market
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
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You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
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▶️ YouTube: /@financemagnates_official
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