SGX FX Enhances AI Offering for FX Desks

The recently-rebranded SGX FX, which incorporates Singapore Exchange’s OTC FX business, has launched a new version of its AI tool via MaxxTrader.

The firm says the tool curates FX and digital assets prices, as well as trade data, before automatically generating tailored, actionable insights to a stakeholder. This enables quicker, easier decision-making to ensure competitive advantage, the firm adds, by analysing multitudes of FX data like trades, price streams, user activities, execution quality, market impact, profitability. It then extracts actionable insights that are presented in digestible stories and charts.

“Gone are the days of spending copious amounts of time sifting through reports, FX traders can now gather tangible insights such as changes in average hold times of the top 10 liquidity providers in a matter of seconds,” says Vinay Trivedi, COO at MaxxTrader. “With its enhanced capabilities in analysing client data insights alongside a bank’s internal data, the tool creates stronger client engagement and redefining efficiency standards across FX.

“Whether identifying that a client is trading less, or detecting rejected quotes on specific pairs, the tool liberates traders to seek answers to key questions,” he continues. “For instance, a desk head can find out instantly if a key client is trading 50% less on GBP/USD – making them more inclined to contact the client quickly to find out why.”