Vega

Interdealer Central Limit Order Book 

Overview

Vega is Digital Vega’s newly developed platform, purpose-built for the Inter-Dealer FX options market. Operating as a Central Limit Order Book (CLOB), Vega supports trading across the board for at-the-money options, risk reversals, butterflies and specific options.

Designed in close collaboration with leading participants in the interbank market, Vega delivers intuitive functionality and a workflow tailored to market-specific needs. The platform aims to significantly reduce brokerage costs while enhancing transparency and efficiency across the global FX options market.

Key Features

  • Up to 80% Reduction in brokerage fees -Access competitive pricing from the world’s largest liquidity providers in real time.

  • Functionality to reduce market impact - Advanced order routing and execution logic ensure best pricing and minimal market impact.

  • Automated credit module to help manage Daily Trading Limits - the integrated credit module allows both manual and automatic management of credit limits.

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

  • Evolved Activity Report to support the latest Surveillance requirements - Due to market rules of engagement, we have built Vega to comply with all market regulations.

Pure interdealer CLOB

Vega offers a fully electronic CLOB purpose-built for FX options, enabling firm, executable pricing between global and regional participants in the IDB market.

80% reduction in brokerage

Utilises an innovative maker/taker fee model that reduces execution costs by up to 80% compared to traditional trading channels.

Regulated venue

Operates under MiFID II as an MTF, offering full regulatory compliance with trade reporting.

Standard contracts

Supports a wide range of FX option products including vanillas, risk reversals and butterflies.

Broad liquidity network

Already backed by over 70 global banks, Vega will deliver deep and diverse liquidity across major and EM currency pairs.

GUI and API trading

Web-based GUI and FIX API for manual and automated trading, with real-time order book access, and full support for quoting and algorithmic strategies.

Why Vega

  • Trusted by Global Institutions – adopted by major banks worldwide.

  • Independent & Neutral – an open, inter 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 the modern FXO market.