FX Connect is widely recognised as a market leader of STP services to the Asset Management community. Their success is largely based on the comprehensive solutions they provide to manage the ‘allocations’ process.
We have worked closely with FX Connect and several of their major clients to design the Digital Vega Allocations services. We are able to do for FX Options what FX Connect have done for cash FX.
Through our intuitive Allocations GUI and comprehensive set of APIs, Buy Side clients can manage the end-to-end allocations process for FX Options.
The Digital Vega Allocations services are available for trades executed over the phone, over other ECNs or on our own Medusa trading platform.
This means that the large block trade executed over the phone directly with your bank or over that bank’s single dealer platform can now be ‘allocated’ over Digital Vega. The details of the ‘trade splits’ will be notified to all relevant parties including the bank, one or more prime brokers, custodians, clearing agents as well as and your in-house systems.
Off-platform block trades can be input into the Digital Vega platform manually through a GUI, automatically via a FIX-based API or loaded from a spreadsheet.
The splitting or ‘allocation’ of trades across a range of accounts or funds can be automated through the use of templates or managed dynamically. Resultant allocations can be notified to other counterparties via spreadsheets or through a FIX-based API.