Buy Side

Simplicity
Liquidity
Transparency
Connectivity

Overview

The Medusa FX Option Trading Platform delivers streamed FX  and FX Option pricing across a wide range of structures and currency pairs. Request a price from up to 5 major bank liquidity providers in competition, execute and confirm in seconds.

Digital Vega has always been at the forefront of development in the multi-dealer FX Option space, winning prestigious industry awards for its Medusa Trading platform.

Continuous development based on client and provider feedback has enabled us to deliver a market leading solution, now used daily by many of the world’s most active option users.

Via its intuitive, browser based UI or via FIX APIs, Medusa delivers accurate pre-trade indicative pricing, linked to seamless streamed bank liquidity, single click execution and confirmation and has been designed from the outset to meet the requirements of a broad range of users.

Flexibility: Medusa supports a range of execution models; based on their specific business requirements, users have the ability to trade directly with their relationship banks or alternatively via one or more of the major prime brokerage providers already integrated to the platform.

Since initial inception, the Medusa platform has continued to evolve in order to meet the needs of an increasingly demanding audience; originally focusing on pure execution, the platform now provides a complete FX option trading solution. Sophisticated pre and post trade management tools allow fine tuning of execution, trade management and reporting. FIX connectivity is already available to all industry standard OMS and STP providers.

Though available as a stand alone solution, through its strategic relationship with State Street Bank Corp, the Medusa platform is available as part of the wider Currenex FX Trading platform and will also provide a full suite of option trading tools in both  FX Connect and State Street’s SwapEX SEF (Swap Execution Facility).

Point, click, trade and confirm.

Hedge Funds

Though very much a generic term covering a universe of diverse participants, there are many hedge funds using differing strategies who are active in the FX and FX option space. Digital Vega has worked closely with a core group of key players to deliver a  robust market-leading solution that delivers a combination of consistent liquidity and trade workflow management tools.

Systematic Funds

Systematic, model driven funds have the ability to access indicative and executable option pricing via either a buy-side FIX API or via an FX Option Order EMS; this allows FX option orders generated from either a portfolio management system or systematic computer programme to be be automatically uploaded, dynamically managed, executed, confirmed and straight through processed by an internal execution desk in a matter of seconds. This unique EMS also provides comprehensive, user-defined execution rules and also offers flexible netting and aggregation rules allowing users to further benefit from spread compression where relevant.

Macro Funds

Using either the intuitive Medusa UI or FIX API, macro funds are able to monitor and react to market opportunities in real-time, creating and submitting requests to multiple providers in 2-3 mouse-clicks, in seconds. Execution benefits are further enhanced using Medusa’s unique manual or dynamic Provider Substitution Algorithm which will always ensure optimum available liquidity for the User’s specific request.

Asset Managers

By their very nature, large Asset Management companies have complex and demanding workflow requirements. Historically, FX Options have been traded manually, creating onerous and error-prone manual booking, confirmation and settlement. Digital Vega is now building a comprehensive end-to-end solution that will fully automate  and streamline this process.

As a result of growing pressure from regulators around the globe and the need to reduce execution and processing costs, major institutions are increasingly  looking to migrate option flow to electronic channels. Working closely with the FX Connect team, and further enhancing their dominant position in the Asset Manager universe, Digital Vega will deliver a full suite of workflow management tools encompassing fully audited best execution, pre and post trade allocations, and seamless integration to matching and confirmation engines such as GTSS.

Private and Regional Banks

Private and Regional Banks are already major users of the the Medusa platform. Aggregated simultaneous pricing in competition, delivered instantly via a single intuitive GUI delivers huge benefits to the user…  at no cost.

Bank Trading desks are assured of instant and accurate indicative or tradable prices, deep and consistent liquidity across 60+ active currency pairs and structures.

Trading Desks are increasingly using the Medusa platform to price and cover specific client flows in which they do not have an active interest. Electronic trading also allows dealers to react more quickly to changes in markets, adjusting positions in seconds rather than relying on less efficient, traditional channels for which they are also charged brokerage.

Sales desks actively use the platform to access instant, accurate indicative pricing for clients rather than consistently bothering trading desks for price levels. Several large sales desks are already using Medusa to immediately cover smaller client trades; with the benefit of Digital Vega’s STP connectivity, efficiency savings are significant.

Agency Brokers

The Medusa platform is easily deployed and has become a critical element of some Agency Broker’s workflow. Liquidity is either centralised and used by internal execution traders, or alternatively, the platform can be very easily white labelled; rebranded and distributed to end clients around the globe.

Digital Vega provides all the necessary infrastructure and limit management tools to support a sophisticated white label deployment.