Medusa

The Leading OTC FX Options Trading and Workflow Platform

Overview

Medusa is Digital Vega’s flagship platform for FX options execution, liquidity management, and post-trade processing. Designed in collaboration with leading banks, asset managers, and hedge funds, Medusa provides deep liquidity access, advanced pricing tools, and seamless connectivity—delivering greater transparency and efficiency to the global FX options market.

Key Features

  • Multi-Dealer RFQ & Streaming - Access competitive pricing from the world’s largest liquidity providers in real time.

  • Smart Execution - Advanced order routing and execution logic ensure best pricing and minimal market impact.

  • Custom Structures - Price and trade a full range of vanilla and barrier-based FX option structures, tailored to your trading strategies.

  • Post-Trade Integration - Automated confirmation, STP, and reporting to reduce operational risk and support compliance.

  • Analytics & Insights - Embedded tools for scenario analysis, risk assessment, and market benchmarking.

  • Pre-trade TCA-based Provider Selection - Liquidity Optimiser analyses LP pricing and automatically selects the optimal provider panel.

  • Full Workflow Automation - Medusa provides full trade lifecycle automation: automated TWAP order splitting and randomisation, Pre-trade TCA-based provider selection and automated option expiry management using a regulated benchmark.

21 Bank Liquidity Providers

We have built trusted relationships with all major banks and can connect and provide liquidity across all major currency pairs

Fully automated OMS

Our Medusa Platform connects to all major order management systems to provide a seamless trade workflow solution

Automated Expiries

Due to the growth in FX Option tickets we have automated the expiry process which has improved efficiency and output for all our clients

Barrier Options

We support the following barrier Options: European Knock in; European Knock Out; American Knock In; American Knock Out; American Reverse Knock In; American Reverse Knock Out

STP Solutions

We are fully connected to all major STP providers, including RTNS, Ostra and custom-built APIs. We also offer a connection via our own FIX APIs

Prime Broker Solutions

We are connected to all major prime brokers and can also introduce you to a Prime Broker bank if you do not have one

New Products and Services

We are currently working to deliver the following enhancements:

Price Negotiation Tools

Using a unique new negotiation protocol, users will be able to fine-tune pricing with relevant LPs without needing to use chat. Fully automated and audited.

Executable Axe Management

Users will be able to view and trade directly on multiple bank axes. Banks will have granular control over external distribution groups.

NLP-Based Order  and Trade Ticket Loading

Use of NLP (natural language processing) will streamline order or trade ticket upload

Why Medusa

  • Trusted by Global Institutions – adopted by major banks and buy-side firms worldwide.

  • Independent & Neutral – an open, multi-dealer marketplace designed for fairness and transparency.

  • Proven Scale & Reliability – built for high-volume, high-speed trading with robust uptime.

  • Continuous Innovation – constantly evolving with new features to meet the demands of modern FX markets.