360T, Quantitative Brokers, Partner for FX Algos

360T has announced a partnership with execution services provider Quantitative Brokers to make the latter’s newly-launched suite of FX algorithmic execution strategies available via the 360T platform.

The firms, who are both owned by Deutsche Börse, say they have partnered after QB added FX to its existing suite of products, targeting futures, US Treasury cash and options markets, following client demand. The roll out introduces FX-optimised versions of QB’s flagship algorithms, which the firm says have been designed specifically to account for the unique market structure and liquidity dynamics of FX trading.

Strobe FX enhances schedule-based execution for TWAP and VWAP benchmarks, while Bolt FX is an implementation shortfall algorithm built to minimise execution costs relative to arrival price. By adding them to 360T’s platform, QB says it is enabling users to deploy them across curated, disclosed, or anonymous liquidity pools, putting multiple counterparties in competition to help ensure best execution.

“We are confident that providing access to highly sophisticated FX algos from a pioneering independent specialist provider, as additional tools alongside the broad range of bank offered algos already available via 360T, will provide significant benefits to our diverse and global client base,” says Matt O’Hara, CEO of 360T Americas. “This partnership also delivers on Deutsche Börse Group’s strategic vision to bring together highly complementary technology solutions from independently operating providers within the organisation to create a truly differentiated offering and further accelerate growth, while also fully aligning with 360T’s commitment to constant innovation in FX.”

David Kalita, CEO of QB, adds, “Quantitative Brokers is deeply committed to delivering enhanced value to our clients while expanding our reach to a broader spectrum of market participants. We are thrilled to bring our extensive expertise and proven track record in developing state-of-the-art execution algorithms to the FX market at a time when demand for such solutions is growing rapidly.

“As an independent provider with a strong history of delivering high-performance execution tools and analytics, we are confident that QB’s suite of innovative FX algos will empower market participants to optimise their trading strategies and achieve superior outcomes,” he adds.